Oil prices mixed on Friday

International benchmarks for oil prices concluded Friday (29 July) trade on a mixed result as weaker US dollar sent prices on West Texas Intermediate higher. However, many analysts are cautioned against Friday’s hike as persistent Weak demand and bloated inventories might continue to drag down the market. Especially when there are signs of increasing production in the US, and rising output from the OPEC.

WTI closed at $41.60/barrel (+$0.46) September delivery

Brent closed at $42.46/barrel (-$0.24) September delivery