Business Standard

Oil retreats below $90 a barrel with bumper rally starting to ease out

Oil headed for the first weekly loss in two months as investors weighed the crisis over Ukraine and Iran's nuclear deal

Strategic Petroleum Reserves
Premium

Agencies
Oil headed for the first weekly loss in two months as investors weighed the crisis over Ukraine and the possibility that Iran’s nuclear deal may be revived.

West Texas Intermediate (WTI) fell below $90 a barrel after losing as much as 3 per cent on Friday. 

WTI crude futures shed $0.43, or 0.47 per cent, to $91.33 a barrel after sliding 2 per cent on Thursday. Brent crude futures fell $0.13, or 0.14 per cent, to $92.84 a barrel by 9.45 IST.

There have been signs that the market’s recent rally is starting to cool in recent days — albeit from exceptionally high

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Feb 18 2022 | 11:05 PM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com