Oil prices firm, heading for the second week of loss

Oil prices remained unchanged on Friday, but were heading for a second straight week of losses, with the US Central Bank leaving the door open to possible increases in interest rates in the future, as well as declining fears that the conflict in the Middle East could lead to supply disruptions. .

According to Reuters, by 0010 GMT, Brent crude futures rose six cents to $86.91 per barrel, while US West Texas Intermediate crude futures increased 12 cents, or 0.2%, to $82.58 per barrel.

The two benchmarks rose by more than $2 a barrel on Thursday. Brent is heading to record a decline of about 4% this week, while West Texas Intermediate crude is heading to close down 3.5%.

Geopolitical concerns continue to be closely monitored in light of the continuing conflict in the Middle East

On the supply side, analysts expect Saudi Arabia, the world’s largest oil exporter, to reaffirm the extension of the voluntary oil production cut by one million barrels per day until December.

Data on the number of US oil rigs is expected to be released later today, and will serve as an indicator of future production.