London — Oil prices fell on Friday as the market retreated slightly from its strongest bull run in at least a year amid efforts to resume Russian oil flows that were interrupted by contamination. The US West Texas Intermediate (WTI) benchmark is on track for its eighth successive weekly gain, the longest run since the first half of 2015. Brent crude, meanwhile, is poised for a fifth weekly gain, representing its best run for a year. Crude futures are up about 40% this year on markets tightened by an oil cartel Opec supply pact, sanctions on Venezuela and Iran, as well as unreliable production in Libya. Brent crude futures were at $72.97 a barrel at 10.48am GMT, down $1.38. WTI crude futures fell by $1.05 to $64.16. The dip followed Brent’s rise above $75 a barrel for the first time this year on Thursday after Germany, Poland and Slovakia suspended imports of Russian crude via a major pipeline, citing oil quality. The move cut off parts of Europe from a major supply route, though Rus...
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