Oil prices are up for the day but heading for weekly losses
Oil prices are expected to remain under pressure for 2019 and 2020; output from Opec recovered in October from an eight-year low
01 November 2019 - 13:49
Tokyo/London — Oil prices rose on Friday but remained on track for a weekly loss as a surprise bounce in Chinese manufacturing activity calmed investors’ worries about progress in US-China trade talks.
Brent crude was up 27c, or 0.4%, at $59.89 a barrel by 9.30am GMT, on course for a drop of about 3.4% for the week. West Texas Intermediate (WTI) crude rose 32c to $54.50 a barrel, which would leave it with a weekly loss of more than 3.8%...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.