Brent crude price decreased on Friday towards recording weekly losses, amid higher US crude stocks and concerns over rising global oil supply.

 

At 9:02 am Makkah time, October Brent crude futures were down 0.2 percent to $73.3 per barrel, a 1.2 percent decrease for the week.

 

The US crude oil September futures also slipped 0.1 percent to $68.89 per barrel.

 

According to the US Energy Information Administration (EIA), inventories rose by 3.8 million barrels last week to 408.74 million barrels, while oil held in storage at the Cushing center in Oklahoma, dropped by 1.3 million barrels.

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