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Commodity: Oil prices rise for the second time on Friday

04/08/2023
Source : ORISHAS FINANCE
Categories: Raw materials

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After Saudi Arabia and Russia pledged to cut production until next month, oil prices rose for the second time on Friday, heading for their sixth week of increases.

West Texas Intermediate oil for September rose 17 cents, or 0.2%, to $81.72, and the Brent oil futures contract for October rose 10 cents, or 0.1%, to $85.24 per barrel at 0330 GMT. Brent has increased by 15.4% and WTI by 18.2% over the past six weeks. Both benchmarks were on track for a sixth week of earnings, their longest streak of weekly earnings this year

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