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Oil settled higher on the final trading day of 2022Oil settled higher on the final trading day of 2022 |
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International benchmarks for crude oil ended higher on Friday, 31 December 2022 to mark the second consecutive annual gain despite the lingering worries about slow global growth and weak demand from China.
Brent jumped $2.45 or 3% to close at $85.91/barrel.
WTI added $1.86 or 2.4% to settle at $80.26/barrel.
Industry experts expected the energy market to remain volatile in 2023. A survey by Reuters among 30 analysts forecasted Brent to average $89.37 a barrel in 2023 and WTI at $84.84 per barrel.
