Washington, March 27 (SANA) Oil prices fell Friday after U.S. President Donald Trump announced a 10-day extension to the deadline before potential strikes on Iran’s energy facilities, moving it to April 6.
Reuters reported that Brent crude rose $0.90, or 0.8%, to $107.11 per barrel, while U.S. West Texas Intermediate (WTI) crude fell $0.83, or 0.88%, to $93.65 per barrel, trimming gains from the previous session. Brent is on track for its first weekly loss in six weeks, while U.S. crude is set for a second consecutive weekly decline amid Trump’s comments about the possibility of ending the conflict in the Middle East.
Gold prices gained more than 1% in Friday trading, supported by buying activity, but are heading for a fourth consecutive weekly loss as rising energy prices stoke inflation concerns and reinforce expectations of global interest rate hikes.
Other precious metals also rose, with spot silver up 1.1% at $68.80 an ounce, platinum 2.1% at $1,865.13, and palladium 2.7% at $1,389.80.
k.A.R
