Tokyo: Oil prices were lower on Friday but on course for weekly gains, the third in a row in the case of Brent, as the clean-up after hurricanes in the United States gathered pace and the outlook for demand took on a firmer tone. U.S. West Texas Intermediate crude was down 17 cents, or 0.4 percent, at $49.72 a barrel at 0620 GMT.
It briefly broke above $50 on Thursday, hitting a four-month high, and finished 1.2 percent higher at $49.89, its highest close since July 31.Brent crude futures were down 23 cents, or 0.4 percent, at $55.24 a barrel.
They gained 0.6 percent to settle at $55.47 the previous session, the highest close since April 13.Nevertheless, U.S. crude is on track for a nearly 5 percent gain this week, buoyed by the return of refineries after Hurricane Harvey and stronger indications of demand. Brent is heading for a 2.7 percent gain and a third consecutive weekly rise.
The image shows a poster of Syngenta Pakistan's 'CropWise Grower' mobile application. — Syngenta...
The undated image shows the name of the Bank of Punjab written on one its branches. — APP FileKARACHI: The Bank of...
ABHI, a financial technology company, partners with Soorty Enterprises. — Facebook/ProPakistaniKARACHI: ABHI, a...
This representational image shows Gold bars. — AFP/FileKARACHI: Gold prices in the local market dropped by Rs1,600...
A currency exchange dealer counting $100 bills. — AFP/FileAs any old-school currencies trader will tell you: buy...
A Pakistan International Airline aircraft takes off in this undated picture. — Radio Pakistan/FileLAHORE: We have...