The Oil Price Collapse Continues ...Middle East

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The Oil Price Collapse Continues
source : OILPRICE ( Middle East ) () 8
As uncertainty over new Covid outbreaks combined with a strengthening U.S. dollar, oil prices came under pressure this week and are on course to finish the week 7 percent down.Friday, August 20th, 2021Oil prices continued their downward slide on Friday, bringing the total weekly decline to 7%. With COVID fears still running high, crude also felt the pinch from the U.S. dollar strengthening as the Federal Reserve mooted cuts to its stimulus measures this year. ICE Brent fell below $66 per barrel on Friday morning, with WTI prices dropping to $63…

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