LONDON—Oil prices are set to end 2023 about 10 percent lower after two years of gains as geopolitical concerns, production cuts, and central bank measures to rein in inflation triggered wild fluctuations in prices.
On Friday, oil climbed after falling 3 percent the previous day as more shipping firms prepared to transit the Red Sea route. Major firms had stopped using Red Sea routes after Yemen's Houthi group began targeting vessels.
Brent crude futures were up 58 cents, or 0.8 percent, at $77.73 a barrel at 1113 GMT, the last trading day of 2023, while U.S. West Texas Intermediate (WTI) crude futures were up 42 cents, or 0.6 percent, at $72.19.
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Oil Prices Set to End Year 10 Percent Lower as Demand Concerns Snap Winning Streak
- by: Reuters
- 12.29.23
- Source:
The Epoch Times
- 12/29/2023
Gas pump nozzle in the fuel tank of a white car, refuel by engin akyurt is licensed under Unsplash unsplash.com
Gas pump nozzle in the fuel tank of a white car, refuel by engin akyurt is licensed under Unsplash unsplash.com
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