American crude oil playing bigger role in global prices
The addition of American crude oil to the Brent benchmark had an immediate impact on global oil prices, one expert said.
Source: marketplace.org
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The addition of American crude oil to the Brent benchmark had an immediate impact on global oil prices, one expert said.
The problem? Too little demand, too much supply. Rising interest rates are also contributing to weaker demand around the world.
Brent, WTI notch second straight weekly gains, as cold snap shuts down US refineries
Analysts also debated where oil is heading in 2023.
Oil prices settled about $3 per barrel higher on Friday for a second straight week of gains after Moscow said it could cut crude output in response to the G7 price cap on Russian exports.