‎Oil drops, set for weekly gain

‎Oil drops, set for weekly gain

Oil drops, set for weekly gain

Oil drilling rigs

Oil prices declined on Friday but were headed for a gain of 2% for the week driven by tight U.S. supply and expectations of strong fuel demand in China during the Golden Week holiday.

Brent November futures slipped 0.35% to $95.05 a barrel at 08:02 am Makkah Time. Brent crude for December delivery edged down 0.16% to $92.95 a barrel.

US West Texas Intermediate crude (WTI) remained unchanged at $91.77 a barrel.

OPEC+ are expected to start easing cuts earlier than scheduled in the meeting scheduled for Oct. 4.

Markets are waiting for the US personal consumption expenditures data today.

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