Oil prices retreat slightly on Friday but look set to close in the green for the second week in a row, adding over 7% of gains in two weeks.
Oil prices are set for a second consecutive week of gains despite facing a bit of profit-taking on Friday. Traders see a rosy outlook for US demand in the short term while inventories fell more than expected last week. The US Dollar Index trades firmly above 105.50, with help from the Japanese Yen and Euro. Oil prices retreat slightly on Friday but look set to close in the green for the second week in a row, adding over 7% of gains in two weeks.
influence the price of WTI Oil? decides to lower quotas, it can tighten supply, pushing up Oil prices. When
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