Oil settled lower as US pipeline disruption resolved

International benchmarks for crude oil pulled back on Friday, 12 August 2022 after a strong surge in the previous session as the pipeline issues that forced several producers in the U.S Gulf of Mexico to halt production is set to resolve soon. Meanwhile, a cloudy economic outlook continues to threaten demand. 

Brent fell $1.45 or 1.5% to settle at $98.15/barrel.

WTI ended the session $2.25 or 2.4% lower at $92.09/barrel.