Oil prices dipped on Friday but poised to record a second consecutive weekly gain, driven by a significant reduction in U.S. interest rates and decreasing global stockpiles.

Oil prices were on a sharp weekly decline on Friday as demand concerns in China and US outweighed a delay to supply increases by OPEC+ producers.

Despite gains on Thursday and Friday, oil prices have faced downward pressure throughout the week on fears of a slowdown in economic growth in China.

Oil prices fell on Friday, hitting their lowest levels since January, following the release of

Despite the drop in oil prices on Friday, Oil is now at the highest level since April with Brent crude adding some 9% over the past four weeks.

Oil prices fell slightly on Friday but were on track for a second consecutive weekly

Oil prices edged down on Friday and posted a third straight weekly loss.

Crude oil prices climbed on Friday, poised for a weekly gain—the first in three weeks—driven by signs of robust demand from economic reports in key markets, improving global demand, and slowing inflation in the United States, the world’s top oil consumer.

Oil prices boosted due to geopolitical tensions and supply concerns. This is the first positive week in the past three.