SINGAPORE (Reuters) – Oil prices slipped on Friday but were set for their third weekly rise on expectations for a recovery in fuel demand in Europe, China and the United States as rising vaccination rates lead to an easing of pandemic curbs.
Brent crude futures fell 16 cents, or 0.22%, to $72.36 a barrel at 0558 GMT, after closing at its highest since May 2019 on Thursday.
U.S. West Texas Intermediate (WTI) crude futures slipped 9 cents, or 0.13%, to $70.20 a barrel, after climbing 0.5% on Thursday to its highest close since October 2018.
Brent is set for a weekly rise of 0.7% while WTI is set to gain 0.8%.
Saudi Arabia, the world’s top oil exporter, will supply full volumes of July-loading crude to its Asian customers, Reuters reported on Friday citing sources.
