Oil Prices Today
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| Oil Prices Today |
Despite the slight decline in oil prices during trading on Friday, it is about to achieve weekly gains, supported by expectations of reduced supplies due to the increase in gasoline consumption in the United States of America during the summer, in addition to the possibility of the European Union banning Russian oil imports as more European pressure on Putin.
We find that the price of a barrel of Brent crude oil has decreased by 20 cents or 0.2%, and its price reached 117.20 dollars per barrel, but it achieved weekly gains of about 4%.
As for the price of a barrel of oil in US West Texas Intermediate crude, it fell by 40 cents, which is equivalent to 0.4%, which led to its price reaching 113.69 dollars per barrel, but the crude is heading towards recording a weekly increase of about 0.5%.
In the same context, data from the US Energy Information Administration revealed on Wednesday, May 25, that US gasoline stocks fell 482,000 barrels last week to 219.7 million barrels.
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