This Friday, oil prices fell, but were on track for their first weekly increase in four weeks.

American West Texas Intermediate (WTI) crude futures lost 79 cents, or 1%, to trade at $77.84 per barrel, cancelling out the small gains of the previous session. Brent oil futures were down 72 cents, or 0.87%, to $82.04 per barrel at 0100 GMT. Oil prices rose after the Organization of Petroleum Exporting Countries (OPEC) maintained its forecast for relatively strong growth in global oil demand for 2024 and Goldman Sachs forecast solid fuel demand in the United States this summer. However, prices fell after the US Federal Reserve maintained interest rates and delayed the start of rate cuts until December