Oil prices fell yesterday but posted strong gains for the week. Skepticism crept into the market after the US sanctions on Russia’s two biggest oil companies, Rosneft and Lukoil. These two companies together account for more than five per cent of global oil output.
Yesterday, Brent crude futures dipped marginally to settle at 65 dollars and 94 cents per barrel, while WTI Crude futures fell around half a per cent, to close at 61 dollars and 50 cents per barrel. For the week, Brent crude futures surged 7.5 per cent and WTI Crude futures also increased 6.8 per cent.
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