Crude oil futures fell during the European session on Friday. The intraday report was $68.56 per barrel, or 2.18%. Despite being stable on Friday, crude oil futures will still record their biggest weekly decline in more than a month. Brent crude oil and West Texas Intermediate will both fall by about 6% this week, the biggest drop since early September last year. Previously, the Organization of Petroleum Exporting Countries and the International Energy Agency lowered global oil demand forecasts for 2024 and 2025.

Crude oil futures fell during the European session on Friday. The intraday report was $68.56 per barrel, or 2.18%. Despite being stable on Friday, crude oil futures will still record their biggest weekly decline in more than a month. Brent crude oil and West Texas Intermediate will both fall by about 6% this week, the biggest drop since early September last year. Previously, the Organization of Petroleum Exporting Countries and the International Energy Agency lowered global oil demand forecasts for 2024 and 2025.