Oil Prices Pushed Up as Market Weighs Tight Supply Against Recession Fears

LONDON—Oil prices rose in European trading on Friday, lifted by supply concerns as attention turned to next week’s OPEC+ meeting.
Brent crude futures for September settlement, due to expire on Friday, gained $2.34 to $109.48 a barrel by 0933 GMT for its highest since July 5. The more active October contract was up $2.30 at $104.13.
U.S. West Texas Intermediate (WTI) crude futures rose $2.16 to $98.58 a barrel.
Both contracts are set for a second monthly loss, however, down 4.6 percent and 6.8 percent, respectively.
A weaker dollar and stronger equities also lent support on Friday. A fall in the dollar makes oil cheaper for buyers with other currencies…. Source

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