Oil prices ended the week with 2.5% losses amid macro-economic headwinds
Global crude oil benchmarks closed Friday's session with minimal changes, yet recorded a 2.5% weekly decline, reflecting persistent market uncertainties. Investor sentiment was dampened by the Federal Reserve's cautious approach to interest rate reductions and the spectre of new tariffs from the incoming US administration.
Global crude oil benchmarks closed Friday's session with minimal changes, yet recorded a 2.5% weekly decline, reflecting persistent market uncertainties. Investor sentiment was dampened by the Federal Reserve's cautious approach to interest rate reductions and the spectre of new tariffs from the incoming US administration.
Brent closed up 6 cents at $72.94/barrel.
WTI rose 8 cents to $69.46 per barrel.
While retreating from a two-year high, the US dollar posted its third consecutive week of gains following mixed economic signals. Despite the weaker dollar—typically a boon for oil prices by making the commodity more affordable for international buyers—macro-economic challenges, including concerns over global demand, limited any significant recovery in crude markets.