Oil Prices on Course for the First Weekly Loss in a Month

OilPrice · Irina Slav · last updated February 27, 2025 – 10:36 PM

Crude oil prices were on course to book their first weekly loss in a month driven lower by concern about the U.S. economy, tariffs, and the prospect of peace in the Ukraine. At the time of writing, Brent crude was trading at $73.66 per barrel, with West Texas Intermediate at $69.97 per barrel. Besides the above bearish factors, according to Reuters, some worry that OPEC+ will go ahead with its production cut unwinding scheduled for April, even though in a separate report the publication cited unnamed sources as saying the group was hesitant about…

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