Oil prices head for their third weekly decline • Forbes Mexico

Notimex .- Oil prices rose Friday after Saudi Arabia said it would not export oil beyond the needs of its customers, dispel the fears that it could flood the market.

de facto OPEC, Saudi Arabia, which was under pressure from US President Donald Trump to pump more and lower prices, said that exports will be "about equal" to June and will drop by 100,000 barrels a day in August

However, benchmark crude prices are about to reach their third weekly loss, after sharp declines on Monday, with a loss of 3.6% for Brent and 2% for WTI.

They were dragged by concerns over excess supply as some of the production came back after the cuts, while trade tensions between the United States and China caused fears of damage.

Saudi Arabia came out the day before to dispel fears of an oversupply, which had supported prices.

But Concerns Over Trade Dispute Between the United States and the United States China is re-emerging with the fall of the Chinese currency, said Stephen Innes, director of operations at APAC in New York. brokerage firm OANDA

Crude oil has been reduced by almost 6% this month. Eye-to-eye trade between the United States and China shook the global financial markets

The benchmark US oil index closed Thursday above its 50-day moving average after slipping under this first level. this week, while concerns remain about possible supply losses in Venezuela and Iran, as well as sporadic interruptions in Libya.

In this context, a barrel of oil The Brent North Sea for deliveries in September was listed at 72.88 dollars at the beginning of the session this Friday (03:00 GMT) on the electronic market Intercontinental Petroleum Exchange (ICE).

El Brent, the international benchmark for Oil prices rose 30 cents (0.41%) from the previous close of $ 72.58.

Meanwhile, West Texas Intermediate (WTI), the reference in the United States, for shipments in September also at 08:00 GMT, it was up 29 cents (0.42%) and was trading at 68, 53 dollars

For its part, the basket of the Organization of the Petroleum Exporting Countries (OPEC) was quoted Thursday at 70.91. dollars, a gain of 93 cents (1.33%) over Wednesday's session, reported the deal.