Oil set to close higher in 2022, a turbulent year marked by tight supplies
SINGAPORE: Oil prices edged up on Friday and were on track to post a second straight annual gain, albeit a meagre one, in a year marked by tight supplies due to the Ukraine conflict, a strong dollar and weak demand from the world’s top crude importer China.
Brent crude futures climbed 44 cents, or 0.5%, to $83.90 a barrel by 0138 GMT after settling 1.2% down in the previous session.
US West Intermediate crude was at $78.88 a barrel, up 48 cents, or 0.6%, after closing 0.7% lower on Thursday.
