ENERGY RECAP: Iranian crude exports plummet

article author:

Sun, 2019-08-25 02:10

Brent crude edged closer to the $60 (SR2225) barrier over the course of the week, finishing at $59.34 per barrel while WTI deteriorated slightly to $54.17 per barrel. Prices remain relatively stable on a week to week basis and continued to move in a narrow band.
Still, oil futures speculators were broad-based sellers last week as the uncertainty over the outlook for global economic growth and future demand continued to take its toll.