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Article Summary
- Oil prices are set for a weekly loss due to concerns about demand outweighing geopolitical tensions
- The ongoing COVID-19 pandemic is affecting global oil demand
- Geopolitical tensions in the Middle East and Europe are not enough to offset the demand concerns
- OPEC+ is expected to increase oil production in the coming months
- The tone of the article is neutral and informative, focusing on the factors affecting oil prices.
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Oil Prices Set For Weekly Loss As Demand Concerns Offset Geopolitics
Crude oil prices were set for a weekly loss today despite a flare-up in the Middle East and the virtual certainty OPEC+ would not be bringing any barrels back anytime soon. Brent crude was trading at $73.38 per barrel at the time of writing, and West Texas Intermediate was changing hands for $69.15, both up from Thursday but down on the start of the week as the U.S. brokered a ceasefire between Is...
https://oilprice.com/Latest-Energy-News/World-News...
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