Oil on track for sharp weekly loss as Strait of Hormuz traffic improves
Oil prices fell further on Friday, slipping by nearly 4 per cent, and are heading for another sharp weekly decline amid easing supply worries, despite an attack on Thursday on a vessel in the Gulf of Oman. Brent, the benchmark for two thirds of the world's oil, was down 3.69 per cent to $72.48 a bar
AI Translated Summary:
Oil prices are experiencing a significant decline, dropping nearly 4 percent as supply concerns ease. This week's losses come despite recent geopolitical tensions in the Gulf region.
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