WorldMoney & Business

Oil prices face second weekly loss

Oil prices were headed for a second weekly loss but remained above $100 a barrel in a week that saw values swing $16 amid turbulence from the war in Ukraine.

Continued hostilities in Ukraine have seen traders trying to avoid Russian crude, triggering supply concerns, while shutdowns in China amid a surge in COVID-19 cases are threatening the demand picture.

The possibility of extra barrels from Iran as nuclear proliferation talks make fitful progress has added to volatility.


Arab News
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