Stability of global oil prices

AL-Anbat- Sara Al-Azzeh.

Oil prices stabilized in global trading on Monday, after rising last week in fears of supply shortages in markets.

According to Bloomberg Economic News, U.S. crude futures fell 0.05% to $82.48 per barrel, while global crude futures Brent fell 0.05% to $86.27 per barrel.

US crude contracts ended trading last week at $82.52 a barrel, while Brent crude contracts ended trading on Friday at $86.31 a barrel.

Last week, Brent rose 1.4% and West Texas Intermediate (WTI) by 2.3%, bringing the two ups for the fourth consecutive week.

 Markets received support from the International Energy Agency's forecast, released Friday, that the global market supply deficit in the third quarter would be 2 million barrels per day.