Oil prices slightly rise as traders cash in on low prices


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