Oil prices stabilized on Friday, as US crude stayed at a record high of $70 a barrel, amid worries about demand on the United States-China trade dispute, as the United States plan imposing more customs on Chinese goods.
Meanwhile, following a drop in the first half of August, prices bounced towards monthly gains.
At 8:47 am Makkah time, global benchmark Brent crude’s October futures stood at to $77.75 a barrel, posting a monthly rise of 4.6 percent, its highest gain since April.
West Texas Intermediate crude (WTI) on the New York Mercantile Exchange stood at $70.28 a barrel, with a 2.2 percent monthly gain.
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