Oil Prices Head For Second Consecutive Weekly Loss ...Middle East

OILPRICE - Economy
Oil Prices Head For Second Consecutive Weekly Loss
source : OILPRICE ( Middle East ) () 33
Oil prices were on course early on Friday to post a second consecutive weekly loss as concerns about the economy trumped larger-than-expected draw in U.S. commercial oil stocks.Brent Crude prices fell this week below the $80 per barrel threshold as negative sentiment in the market prevailed due to concerns about a recession with rising interest rates in major developed economies. The Fed, the European Central Bank (ECB), and the Bank of England are all expected to continue raising the key interest rates at their upcoming policy meetings. The Fed’s…

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