BUSINESS

Oil Prices Set To Move Downwards

Faced with a buildup of high inventories and global economic slowdown, oil prices are set for their biggest weekly drop for this year.

Brent crude rose 12 cents to $67.88 a barrel, but the global benchmark remained on course for a weekly decline of about six percent.

U.S. West Texas Intermediate crude was unchanged at $57.91 a barrel.

The benchmark was on track for a weekly drop of almost eight percent, the biggest weekly decline since December.

Marcia Wright, Readers Bureau, Fellow

Edited by Jesus Chan

Do you want to add feedback to this story? Please add a comment in e-mail box below.

Like our Facebook page https://www.facebook.com/TheReadersBureau

Follow us on Twitter https://twitter.com/readersbureau21