Singapore-Sana
Today, oil prices hovered near their highest level in two months, with Brent crude heading towards achieving the largest weekly jump in a month and a half.
Reuters reported that Brent crude futures fell only nine cents to $117.31 a barrel, after rising to $118.17 earlier in the session, but the benchmark crude is heading for a gain of about 4 percent this week.
US West Texas Intermediate crude futures fell 18 cents, or 0.2 percent, to $113.91 a barrel, and US crude is also heading towards achieving weekly gains of about 0.7 percent.
Both benchmarks contracts are also set to end the week on a higher note as the European Commission continues to pressure the 27 European Union member states to collectively agree to impose new sanctions on Russia.
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