Oil rises on Friday, heads for weekly loss
- Date: 02-Jun-2023
- Source: Argaam
- Sector:Oil & Gas
- Country:Saudi Arabia
Oil rises on Friday, heads for weekly loss
Oil rose today, June 2, but is still bound for a weekly drop after the US Congress passed a bill to suspend the US debt ceiling of $31.4 billion.
Brent crude contracts for August delivery traded 0.47%, or 35 cents, higher at $74.63 a barrel at 8:16 am Makkah Time.
West Texas Intermediate (WTI) for July delivery rose 0.46%, or 32 cents, to $70.42 a barrel, despite a drop of around 3% this week.
Investor attention is now fixed on the June 4 meeting of OPEC+ amid expectations that OPEC+ will keep production targets unchanged.
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