Oil prices were on track for their steepest weekly decline since March despite rising in early trade on Friday, on growing worries that higher-for-longer interest rates could stoke a global economic slowdown and curb fuel demand. Both benchmarks had surged to 2023 highs last week, but Brent has dropped 11.8% and WTI by about 8.8% this week. On Friday, Brent futures were up 36 cents, or 0.4%, at $84.43 at 0147 GMT, while U.S. West Texas Intermediate crude futures were up 42 cents, or 0.5%, at $82.73, recovering slightly from a 2% decline on Thursday.
FILE PHOTO: Oil rigs are seen at Vaca Muerta shale oil and gas drilling, in the Patagonian province of Neuquen, ArgentinaSINGAPORE - Oil prices were on track for their steepest weekly decline since March despite rising in early trade on Friday, on growing worries that higher-for-longer interest rates could stoke a global economic slowdown and curb fuel demand.
"Oil prices are stabilizing after a brutal week that saw a relentless bond market selloff trigger global growth worries," said Edward Moya, an analyst at OANDA. A meeting this week of a ministerial panel of OPEC+, the Organization of the Petroleum Exporting Countries and allies led by Russia, made no changes to the group's oil output policy.
There's one glaring issue standing in the way of the far-right plot to install Trump as next House speaker.Prime Minister Justin Trudeau's Easter weekend vacation in Montana cost taxpayers nearly a quarter of a million dollars, CBC News has learned — far more than the sum reported to Parliament.The price tag for the April 6-10 trip comes to more than $228,839, once the costs carried by the Canadian Armed Forces, the Privy Council Office and the RCMP are included.
Photo Illustration by Luis G. Rendon/The Daily Beast/GettyThe United States and NATO breathed a sigh of relief this week when the Serbian government said it would be pulling back troops after ordering a swift military buildup along its border with Kosovo. The National Security Council had referred to the buildup as “a very destabilizing development”—and news of the apparent de-escalation was “welcome,” the U.S. State Department said.
One GOP lawmaker described Gaetz as a "Republican running with scissors" after Gaetz forced a vote to boot McCarthy from the speakership.
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