OIL & GAS

Oil prices dip on sluggish coronavirus recovery

Oil prices edged lower on Friday but held near a five-month high as an easing of coronavirus lockdowns aids a slow recovery in fuel demand while major crude producers seek to limit supply.

Brent crude LCOc1 futures were down 52 cents, or 1.1%, at $44.38 a barrel by 0850 GMT, heading for a 0.9% weekly decline.

U.S. West Texas Intermediate (WTI) crude CLc1 futures were down 48 cents, or 1.1%, at $42.34 but on track for a weekly gain of about 0.9%.

Source
Reuters
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