Oil drilling rigs
Oil prices edged down today, July 28, but head for the fifth weekly gain as the US economic growth exceeded expectations. Chinese authorities have also pledged more stimulus to support growth in the largest crude importer.
Brent crude for September delivery traded 0.58%, or 49 cents, down at $83.75 a barrel at 8:01 am Makkah Time. It heads for a weekly rise of nearly 5%.
Brent crude settled above $84 a barrel on July 27 for the first time since April as the US economic growth topped expectations.
US WTI crude for September delivery inched down 0.46%, or 37 cents, to $79.72 a barrel, despite a rise of over 3% this week. It is bound for the longest run of weekly gains since June 2022.
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