Rally cools slightly Oil prices fell in a single week for the first time since December

According to World Petroleum reported on February 18, oil prices fell
weekly for the first time in two months.

West Texas Intermediate crude oil closed near
$91 a barrel on Friday as commodity prices, from natural gas to metals and food, fluctuated with each shift in the stalemate between the West and Russia.
U.
S.
crude oil fell 2.
2 percent
this week.

Despite the recent rise in oil prices, recent rallies have shown signs
of cooling.
The gap in crude oil prices in the North Sea market has narrowed, while refining margins are under pressure
.
An oil-focused exchange-traded fund suffered its biggest one-day divestment since July 2020
.

West Texas Intermediate Oil's spot spread (the difference between the two contracts closest to it) fell to 86 cents, well below the $2 premium
earlier this week.
Narrowing spreads suggest that traders expect supply tensions to ease somewhat next month amid weaker exports, with March crude futures due
on Tuesday.

Crude oil prices rose to their highest levels since 2014 this week, with crude prices rising sharply, supported by high demand, tight supply and falling inventories
.
One of the strongest potential markets in recent years, Brent crude futures hit $
100 a barrel.
While the market remains strong, prices have weakened
as geopolitical risk premiums have fallen over the past few days.

Price:

New York's WTI for March delivery fell 69 cents to close at $
91.
07 a barrel.

Brent crude rose 57 cents in April to close at $
93.
54 a barrel.