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Hydrocarbon: Oil is heading for its first weekly rise

20/02/2026
Source : ORISHAS FINANCE
Categories: Raw materials

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This Friday, oil prices held steady near their highest levels in six months, on track to record their first weekly increase in three months, amid growing fears of a conflict.

The price of Brent crude oil fell slightly by 19 cents, or 0.3%, to $71.47, while the price of crude oil American West Texas Intermediate fell by 13 cents, or 0.2%, to 66.30 dollars at 9:00am GMT.

Over the week, Brent rose by 5.5% and WTI of 5.4% so far.

Oil prices were also supported by reports of a decrease oil stocks raw and the limitation of exports in the main producing countries and oil exporters in the world.

Crude oil stocks American prices fell by 9 million barrels, while the rate of refinery use and exports have increased, according to a Energy Information Agency report published on Thursday.

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