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Asharq Al-Awsat
Asharq Al-Awsat
Business
Asharq Al-Awsat

Oil Ticks Up, but on Track for Weekly Loss on Recession Fears

Pump jacks operate at sunset in Midland, Texas, US, February 11, 2019. REUTERS/Nick Oxford/File Photo

Oil prices edged higher on Friday but were on track for a weekly decline amid fears of sharp interest rate hikes that would slam global growth and hit fuel demand.

Brent crude futures were up 56 cents, or 0.6%, to $91.40 a barrel as at 0610 GMT, but were down 1.5% for the week so far, Reuters reported.

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