KONTAN.CO.ID - LONDON. Oil prices on Friday stayed near their lowest levels since February as concerns over a possible recession and a fall in fuel demand continued to rattle markets. Brent crude rose 37 cents, or 0.4%, to $94.49 a barrel by 1226 GMT. U.S. West Texas Intermediate crude was up 27 cents, or 0.3%, at $88.81. Prices have come under pressure this week as the market has fretted over the impact of inflation on economic growth and demand, but signs of tight supply kept a floor under prices.
Oil Prices Set to End Week Near Multi-Month Lows on Recession Fears
KONTAN.CO.ID - LONDON. Oil prices on Friday stayed near their lowest levels since February as concerns over a possible recession and a fall in fuel demand continued to rattle markets. Brent crude rose 37 cents, or 0.4%, to $94.49 a barrel by 1226 GMT. U.S. West Texas Intermediate crude was up 27 cents, or 0.3%, at $88.81. Prices have come under pressure this week as the market has fretted over the impact of inflation on economic growth and demand, but signs of tight supply kept a floor under prices.