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Oil ends week near 12-year lows

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 8, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Córdoba) - Oil prices edged lower on Friday in a fairly quiet session to close a busy week, with both benchmarks hitting 12-year lows amid Chinese turmoil and Middle East tensions.

    WTI crude for February delivery settled Friday 0.29% down at $34.26 a barrel, posting its fifth loss in a row and closing the week down by more than 10%. WTI posted its lowest since 2004 at $32.10 on Thursday.

    Meanwhile Brent oil for February delivery closed at $33.56, down 0.56% on the session and 10% down for the week. Brent also scored a 12-year low of $32.16 a barrel earlier this week.
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