Crude oil prices fell over one percent on Friday after the International Monetary Fund (IMF) forecast weaker global growth, primarily due to the Russia-Ukraine war and Covid-19 lockdowns in China.
As of 1415 hours GMT, Brent, the international benchmark for two-thirds of the world’s oil, shed $1.554(-1.43 percent) to reach 106.78 a barrel. The West Texas Intermediate (WTI), the main oil benchmark for North America, slipped to $102.08 a barrel, down by $1.71 (-1.65 percent). Arab Light was available at $112.60 a barrel with a decrease of 1.02 percent and the price of Russian Sokol slipped to $97.99 a barrel with a 1.11 percent decrease.—TLTP
