Oil heads for fourth straight quarterly decline – Reuters
- Date: 30-Jun-2023
- Source: Reuters
- Sector:Oil & Gas
- Country:Saudi Arabia
Oil heads for fourth straight quarterly decline – Reuters
LONDON, June 30 (Reuters) - Oil prices rose above $75 a barrel on Friday but were on course for a fourth consecutive quarter of losses amid concerns over sluggish global economic activity and fuel demand.
Benchmark Brent crude futures for September delivery rose 78 cents or 1.05% to stand at $75.29 at 0912 GMT. The less-traded front-month contract , which expires on Friday, was up 91 cents at $75.25.
The contract was on track for a 6% decline in the three months to the end of June, marking a fourth straight quarterly decline. Prices are at their lowest in 2 years.
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