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Home » Oil prises rise after losses on Thursday

Oil prises rise after losses on Thursday

Saturday, January 6, 2024 Oil & Gas 1 Min Read
NOC halts production at Mellitah Industrial Complex for renovation
A general view taken on January 6, 2015 shows the Mellitah Oil and Gas terminal on the outskirts of Zwara in western Libya after fighters from the Islamist-backed Fajr Libya (Libya Dawn) militia secured the perimeter of the oil complex. Mellitah Oil and Gas is a joint venture between Italy's ENI and Libya's National Oil Company and the Greenstream pipeline runs from Mellitah to Gela in Sicily. AFP PHOTO / MAHMUD TURKIA (Photo credit should read MAHMUD TURKIA/AFP/Getty Images)

Oil prices rose on Friday by over $1 on Friday, where Brent crude futures were up $1.10, or 1.42%, at $78.69 a barrel, while U.S. West Texas Intermediate crude futures rose $1.45, or 2.01%, to $73.64, according to Reuters.

Both benchmarks are on track to end the first week of the year higher, having recouped losses from Thursday that were triggered by hefty increases in U.S. gasoline and distillate stocks.

Brent Crude Oil
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