Oil on Friday clawed back some of its losses from the previous session when prices fell the most in a month, although worries that emerging market crises and trade disputes could dent demand continued to drag.
Brent crude was up 23 cents, or 0.3 per cent, at $78.41 a barrel by 0122 GMT, after falling 2 per cent on Thursday. The global benchmark the day before rose to its highest since May 22 at $80.13 a barrel.
US light crude was up 27 cents, or 0.4 per cent, at 68.86, after dropping 2.5 per cent on Thursday.
The International Energy Agency on Thursday warned that although the oil market was tightening at the moment and world oil demand would reach 100 million barrels per day (bpd) in the next three months, global economic risks were mounting. Read More
Latest posts by The Economic Times (see all)
- BBMP plans to convert waste to energy on a trial basis - November 14, 2018
- Renewables should learn from thermal power plant woes: Sumant Sinha of ReNew Power - November 14, 2018
- Railways to withdraw flexi fare from some trains from March 2019 - November 13, 2018