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Oil gains shrink on MENA status quo

Oil gains shrink on MENA status quo
Photo Credit: Arabianeye-Reuters

Mubasher: The prices of oil have fallen below the $55-level after Brent and Nymex crude oil levelled up to above $55 and $52 per barrel, respectively.

Oil prices were linked to investors’ worries over the current condition in the MENA region, after the US military launched an attack on Syria, late Thursday.

The price of Brent crude oil on Friday rose by 0.15% to reach $54.97 per barrel, by 15:35 GMT.

Nymex oil prices also gained 0.44% to settle at $51.99 a barrel.