Oil prices soared more than four percent Friday following news that the US had killed a top Iranian general.
Crude oil prices fell on Friday as concerns over the outlook for global economic growth outweighed elevated tensions in the Middle East that could disrupt supply routes and send prices higher.
But gains were checked by concerns that a prolonged trade war between Washington and Beijing could lead to a global economic slowdown.
U.S. West Texas Intermediate (WTI) crude futures were at $63.71 per barrel, down 5 cents.
Analysts on average expect U.S. crude stockpiles to have risen by 1.9 million barrels last week, the fourth straight increase. The first of this week’s stockpile reports is due at 2030 GMT from the American Petroleum Institute. [EIA/S]
Brent crude oil futures were at $66.73 per barrel at 0752 GMT, down 30 cents, or 0.5 percent, from their last close.
Oil prices fell on Thursday as U.S. crude production neared an unprecedented 12 million barrels per day (bpd) just as worries about weakening demand emerge.
“$50 is a psychological support level (for Brent),” said Margaret Yang, a market analyst for CMC Markets in Singapore.
Front-month Brent crude oil futures were at $67.41 per barrel at 0746 GMT, up 65 cents, or 1 percent, from their last close.
Front-month Brent crude oil futures were trading at $66.17 per barrel at 0737 GMT, up 5 cents from their last close.
International Brent crude oil futures LCOc1 were down 48 cents, or 0.7 percent, at $72.69 a barrel.
Brent crude futures for January had dropped 37 cents, or 0.49 percent, to $74.67 per barrel by 0527 GMT. West Texas Intermediate (WTI) crude futures declined 29 cents to $65.02 a barrel.
Brent crude oil futures LCOc1 were trading at $86.14 per barrel at 0651 GMT, down 15 cents, or 0.2 percent, from their last close.
U.S. West Texas Intermediate (WTI) crude futures CLc1 marked $75.90 a barrel around 0630 GMT on Tuesday, their strongest since November 2014.
Brent crude oil futures gained 25 cents to $78.34 per barrel as of 0727 GMT, reversing a 0.2 percent loss earlier in the session.
Benchmark Brent crude oil LCOc1 was down 20 cents at $75.75 a barrel by 0750 GMT. U.S. light crude CLc1 was 10 cents lower at $68.43 a barrel.
International Brent crude oil futures LCOc1 were at $76.14 per barrel at 0625 GMT, down 7 cents from their last close.
International Brent crude oil futures LCOc1 were at $75.63 per barrel at 0654 GMT, down 19 cents from their last close.
Brent crude oil futures LCOc1 were at $72.90 per barrel at 0653 GMT, up 27 cents, or 0.37 percent, from their last close.
Brent crude futures were up 20 cents, or 0.3 percent, at $72.48 barrel by 0644 GMT, following a decline of more than 3 percent on Wednesday.