Crude futures slipped lower Friday following President Trump's decision to waive some new sanctions against Russia, though losses were limited by ongoing Middle East supply risks. December Brent crude settled down 0.3% at $109.55 a barrel, while December WTI fell 0.5% to $98.54. The decline came after technical selling, with Friday's late-session rally "looking mismatched against fresh headlines," according to Ritterbusch & Associates.
Notably, November WTI surged 2.2% to $103.66 ahead of Tuesday's contract expiry, suggesting near-term support in the market. Energy and utilities markets remain volatile as geopolitical tensions continue to influence supply outlooks.
Source: Wall Street Journal US Business · Summarized by HeadlinesBriefing