Commodities
Oil Prices Stabilize Amid Escalating Middle East Tensions
Oil prices remained relatively stable on Friday as the market weighed the risks to global supplies from the Middle East.
The price of Brent crude fell by 3 cents, or 0.03%, to $102.28 a barrel at 03:50 GMT, despite a slight increase at the start of trading. The contract was still on track for a weekly decline of approximately 2%.
Meanwhile, West Texas Intermediate prices dropped by 19 cents, or 0.2%, to $92.68 a barrel, with expectations of a 0.3% weekly rise.
KCM Trade chief analyst Tim Waterer noted that the market was dealing with conflicting signals this week, and traders were 'just taking a breather' after a turbulent Thursday.