Oil prices end the week with a rise amid supply disruptions

On Friday, oil prices showed a decline, but remained on track for a weekly increase. This was helped by concerns about supply disruptions from Russia, as well as improved consumption forecasts in the largest economies, the United States and China.

The price of Brent futures decreased by 0.78%, reaching $75.73 per barrel. U.S. WTI crude oil lost 0.54% and was trading at $71.70 per barrel. Despite the decline, both brands ended the week on a positive note, adding about 2%. This was the most significant weekly increase since January of this year. Brent showed a second consecutive week of growth after a three-week decline, while WTI ended the week in positive territory for the first time in a month.

Market participants continue to closely monitor oil supply disruptions. This week, Russia announced a reduction in oil exports through the Caspian Pipeline Consortium, which is a key route for oil supplies from Kazakhstan. The decrease in export flows, according to the data, amounted to 30-40%, which was caused by an attack by an unmanned vehicle that damaged a pumping station.