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

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