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Oil: the metal is expected to record a weekly loss

17/10/2025
Source : ORISHAS FINANCE
Categories: Raw materials

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This Friday, oil prices fell slightly went down on Friday, at the start of the session. They are heading for a loss weekly, due to uncertainty over energy supplies World Cup after US President Donald Trump and the Russian president Vladimir Putin agreed to meet in Hungary to discuss the end of the war in Ukraine.

Brent crude oil futures have fell by 8 cents, or 0.13%, to 60.98 dollars per barrel at 0030 GMT, while American West Texas Intermediate futures were down by 9 cents, or 0.16%, to 57.37 dollars.

On a weekly basis, the two indexes of baselines fell by almost 3%, in part due to forecasts of The International Energy Agency regarding oversupply increasing in 2026.

Trump and Putin have Agreed on Thursday on a new summit on the war in Ukraine, a decision surprise that came as Moscow feared new military support American in Kiev. The meeting could take place in the next two weeks in Budapest.

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