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Futures rose Brent crude $1.65 to settle at $100.99 a barrel. US West Texas Intermediate crude futures rose 54 cents to settle at $93.06 a barrel.
Overall, Brent crude rose 4.4 percent during the week, while WTI rose 2.9 percent.
On Monday, Saudi Arabia indicated the possibility of making production cuts to compensate for the return of Iranian production to oil markets in case you have concluded Tehran A nuclear agreement with the West, and several OPEC member countries announced their support for the Saudi viewpoint.
And he said "Commerzbank" in a note "Still the impression is that Saudi Arabia Not willing to condone any price drop below $90. Speculators can take this as an invitation to bet on higher prices without having to fear more obvious price drops.".
Oil prices fell briefly after Federal Reserve Chairman Jerome Powell said yesterday that the US economy will need tight monetary policy. "For some time" Before inflation is brought under control, a fact that means slower growth, a weaker labor market and"some pain" For families and companies, he noted that there is no quick fix for the price hike.
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Futures rose Brent crude $1.65 to settle at $100.99 a barrel. US West Texas Intermediate crude futures rose 54 cents to settle at $93.06 a barrel.
Overall, Brent crude rose 4.4 percent during the week, while WTI rose 2.9 percent.
On Monday, Saudi Arabia indicated the possibility of making production cuts to compensate for the return of Iranian production to oil markets in case you have concluded Tehran A nuclear agreement with the West, and several OPEC member countries announced their support for the Saudi viewpoint.
Commerzbank said in a note, “The impression is still that Saudi Arabia Not willing to condone any price drop below $90. Speculators can take this as an invitation to bet on higher prices without having to fear more obvious price drops.”
Oil prices fell briefly after Federal Reserve Chairman Jerome Powell said yesterday that the US economy will need tight monetary policy “for some time” before inflation is under control, a fact that means slower growth, a weaker labor market and “some pain” for households and businesses. Noting that there is no quick remedy for the high prices.