Oil prices fell today in thin market liquidity, closing a week marked by worries about Chinese demand and haggling over a Western price cap on Russian oil. China reported a record number of Covid-19 cases today, stoking demand fears. “Because there’s light volume after the holiday, we’re giving up some of the gains here a bit,” said Phil Flynn, an analyst at Price Futures group. Both contracts posted their third consecutive weekly declines after hitting 10-month lows this week. Brent ended the week down 4.6%, while WTI fell 4.7%. WTI traded down $1.66 or 2.1% to close at $76.28. Brent traded down $1.71 or 2% to close at $83.63<\/p>\n\n\n\n
Oil prices fell today in thin market liquidity, closing a week marked by worries about Chinese demand and haggling over a Western price cap on Russian oil. China reported a record number of Covid-19 cases today, stoking demand fears. “Because there’s light volume after the holiday, we’re giving up some of the gains here a […]<\/p>\n","protected":false},"author":3,"featured_media":6111,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[26],"tags":[],"class_list":["post-8040","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-petroleum-daily"],"yoast_head":"\n