Singapore, November 06 (QNA) - Oil prices are heading toward a sharp weekly decline, amid growing expectations that geopolitical tensions in the Middle East are easing.
During today's trading, oil prices saw an uptick; Brent crude futures for January delivery rose by USD 1.57, an increase of 1.6 percent, to reach USD 99.86 per barrel.
Meanwhile, US West Texas Intermediate (WTI) crude futures climbed by USD 1.10, or 1.22 percent, to USD 91.62 per barrel.
Although both benchmarks recorded gains for the second consecutive day, they remain on track for weekly losses. Projections indicate that Brent crude is set to fall by approximately 12 percent this week, while West Texas Intermediate is expected to decline by 12.1 percent. (QNA)