Oil edges down as investors weigh possible US sanctions on 'shadow fleet'
BEIJING: Oil prices edged down on Friday morning as investors weighed Middle East risks and possible US steps to ease restrictions on the world’s “shadow fleet” of tankers. Brent crude futures fell 41 cents, or 0.39%, to $105.51 a barrel by 0012 GMT, while US West Texas Intermediate crude futures CLc1 were down 54 cents, or 0.55%, to $97.43. WTI settled up more than 3% on Thursday after a large…
Oil prices dipped on Friday as investors considered Middle East risks and potential US actions to ease restrictions on the world's "shadow fleet" of tankers. Brent crude futures slipped 41 cents, or 0.39%, to $105.51 per barrel by 0012 GMT, while US West Texas Intermediate crude futures were down 54 cents, or 0.55%, to $97.43. WTI had risen 3% on Thursday after a significant US crude stock draw supported prices.
Meanwhile, the International Energy Agency agreed to release over 20 million barrels of diesel into the market, following a record emergency reserve release in March. The Saudi-led coalition in Yemen reported numerous attacks on their infrastructure in an ongoing conflict.
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