scorecardresearchOil heads for weekly loss as recession fears trump tight supply

Oil heads for weekly loss as recession fears trump tight supply

Updated: 08 Jul 2022, 02:14 PM IST
TL;DR.
Brent crude fell 36 cents, or 0.3%, to $104.29 a barrel by 0820 GMT and U.S. West Texas Intermediate crude dropped 50 cents, or 0.5%, to $102.23.
Workers change a water pipe during a Nomad Proppant LLC mobile mining operation in Big Spring, Texas, US, on Tuesday, June 21, 2022. Texas crude producers are facing a sand shortage of more than 1 million tons and prices that have jumped 150%. Photographer: Matthew Busch/Bloomberg

Workers change a water pipe during a Nomad Proppant LLC mobile mining operation in Big Spring, Texas, US, on Tuesday, June 21, 2022. Texas crude producers are facing a sand shortage of more than 1 million tons and prices that have jumped 150%. Photographer: Matthew Busch/Bloomberg