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Oil Prices Are Stabilizing At The End Of 2018

BAGHDAD, Oil prices have stabilized after volatile markets before the end of the year as they gained support from the rise in US equity markets but are still under pressure from concern over an oversupply of crude.

Brent crude futures closed at $ 52.20 a barrel at $ 52.20 after hitting a session high of $ 53.80.

US benchmark WTI futures rose 72 cents to settle at $ 45.33 a barrel after reaching $ 46.22 a barrel earlier in the session.

The benchmark crude oil was the third consecutive weekly decline, with Brent falling about 3 percent, while US crude fell 0.4 percent.

Source: National Iraqi News Agency