Oil prices rebounded on Friday, recovering some of the losses that exceeded 1% in the previous session, amid diminishing prospects for a quick resolution to the war in Ukraine and following bleak demand forecasts from the International Energy Agency (IEA) on Thursday.
Brent crude futures rose by 44 cents, or 0.6%, to $70.32 per barrel, after falling by 1.5% in the previous session. U.S. West Texas Intermediate (WTI) crude increased by 47 cents, or 0.7%, to $67.01 per barrel, after closing down by 1.7% on Thursday, according to CNBC.
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Oil prices rebounded on Friday, recovering some of the losses that exceeded 1% in the previous session, amid diminishing prospects for a quick resolution to the war in Ukraine and following bleak demand forecasts from the International Energy Agency (IEA) on Thursday.
Brent crude futures rose by 44 cents, or 0.6%, to $70.32 per barrel, after falling by 1.5% in the previous session. U.S. West Texas Intermediate (WTI) crude increased by 47 cents, or 0.7%, to $67.01 per barrel, after closing down by 1.7% on Thursday, according to CNBC.
