U.S. Oil falls as the concerns about Saudi’s supplies decrease
The prices of crude oil futures’ contracts in the U.S. decreased by about 2% on Friday, as a result of decreasing the fears of damages of Saudi supplies, after Saudi denial of a fire in the pipeline along with the rise of the dollar, which weakened investors’ appetite for high risk assets such as oil and other basic commodities.
By the end of trading in New York Mercantile Exchange (NYMEX), the price of U.S. light crude futures contracts for April delivery at settlement declined by 2.14 $ (1.97%) to be 106.70$ per barrel.
Over the past week, U.S. crude fell 3.07$ (2.8%) of the settlement price 109.77$ on 24 February.
Also in London, the price of Brent oil contracts’ for April delivery at settlement declined by 2.55$ (2.02%) to be 123.65$ per barrel, as Reuters stated
Over the week, Brent crude fell 1.82$ (1.45%) of the settlement price, which is 125.47$ on February 24th.
