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Thomson Reuters
TOKYO (Reuters) – Oil prices eased on Friday and are expected to come down for the second week in a row, as the market has ceased warning that spare capacity could be increased as OPEC and Russia increase their oil prices. production.
Brent crude decreased by 20 cents, or 0.3 percent, to $ 74.25 0059 GMT. On Thursday, he earned $ 1.05 a barrel, bouncing from a session low of $ 72.67. It is heading for a weekly decline of nearly 4 percent.
U.S. crude fell 6 cents, or 0.1%, to $ 70.27 after a five-cent drop in the previous session. It is heading towards a weekly decline of nearly 5%.
It's been a crazy week for oil prices, as both major indices suffered heavy losses on Wednesday as traders focused on returning Libyan oil to the market, because concerns about the United States. commercial war.
However, a warning about the unused capacity of the International Energy Agency (IEA) pushed Brent up on Thursday, helping to recover some losses.
The IEA warned that the world's oil supply cushion "could be reached to the limit" because of production losses in several different countries.
"The rise in production in the Middle East and Russian Gulf countries, while welcome, comes at the expense of the world's unused capacity cushion, which could be achieved," said the spokesman. IEA in its monthly report.
"This vulnerability currently underlies oil prices and seems to continue to do so," said the agency.
(Reported by Aaron Sheldrick, edited by Richard Pullin)
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