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US benchmark oil contract rises 5%

Iran seizes US cargo on oil tanker over sanctions: judiciary
Source: Pixabay

The main US oil contract, WTI, jumped more than five percent in trading on Friday as supply concerns outweighed recession worries, and as traders began to look ahead to a meeting next week of OPEC+ nations on production.

Around 1430 GMT, WTI was up 5.1 percent to $101.29, while the main international contract, Brent, climbed 3.1 percent to $110.43.


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Agence France-Presse (AFP) is a French international news agency headquartered in Paris, France. Founded in 1835 as Havas, it is the world's oldest news agency.

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