Oil prices post a weekly loss on stockpile releases
2022-04-09T07:42:29+00:00
Shafaq News/ Oil prices posted a $1 per barrel weekly loss notching their second straight weekly decline after countries announced plans to release crude from their strategic stocks.
Brent crude futures settled up $2.20, or 2.19%, at $102.78 a barrel. U.S. West Texas Intermediate (WTI) crude futures rose from $2.23 to $98.26.
For the week, Brent dropped 1.5%, while WTI slid 1%. For several weeks, the benchmarks have been at their most volatile since June 2020.
