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Wednesday, January 1, 2025

Home Business Oil prices slightly rise as traders cash in on low prices

Oil prices slightly rise as traders cash in on low prices

by News desk
March 18, 2023
in Business

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Oil prices edged higher on Friday after traders took advantage of profit-taking from low prices through the week despite a policy rate hike of the European Central Bank (ECB) and deepening economic worries after the collapse two major US banks.

International benchmark Brent crude traded at $74.92 per barrel at 9.26 a.m. local time (0626GMT), up 0.29% from the closing price of $74.70 a barrel in the previous trading session.

At the same time, American benchmark West Texas Intermediate (WTI) traded at $68.55 per barrel, a 0.29% increase after the previous session closed at $68.35 a barrel.— AA