Oil prices edge higher as supply risks mount

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NEW YORK : Oil prices rose in early Asian trading hours on Friday, setting up a third straight weekly jump, as concerns about supply problems from escalating geopolitical tensions and weather-related disruptions offset signs of weak demand.

Brent and WTI futures have gained 1.5 per cent so far on a weekly basis.

Heavy rains have caused Ecuador's production to decline by 100,000 barrels a day over the past week, FGE Energy said on Friday.The U.S.

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Category: EconomyBusiness

Markets: SingaporeFranceIsraelLebanonTurkeyUnited States

Topics: Brent Friday Demand Rose Cent Weak Lebanon Prices Futures Barrel Crude

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-06-28 @ 09:10:19 (4 days ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 419 words

Reading Time: 3 minutes read

Sentences: 19 lines

Sentence Length: 23 words per sentence (average)

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Copyright Owner: © Channel News Asia

News ID: 21406416

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Main Topics: EconomyBusiness

Official Website: channelnewsasia.com

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