Baghdad Oil prices stabilized today, Friday, as investors paused to catch a breath, following a day of extreme fluctuations raised by the specter of a coordinated move by the world’s major economies to withdraw from their strategic stocks of crude.
Brent crude futures rose 28 cents, or 0.3 percent, to $ 81.52 a barrel by 0145 GMT, after falling to a six-week low on Thursday, before turning the course and closing 1.2 percent higher.
The futures contracts for West Texas Intermediate crude were not less fortunate than the previous one, as it also rose 19 cents to $ 79.20 a barrel, after it fluctuated in a range of more than two dollars before closing higher, and the two crudes are heading to a fourth week of decline.
Source: National Iraqi News Agency