Oil prices slip on profit-taking, but head for strong weekly gain
Oil prices drifted down on Friday as traders locked in profits from a strong run-up this week, stoked by growing confidence that the rapid spread of the Omicron coronavirus variant would not hit global growth and fuel demand.
U.S. West Texas Intermediate (WTI) crude futures fell 7 cents, or 0.1%, to $70.87 a barrel at 0150 GMT, after sliding 2% in a volatile session the previous day. Pic: Reuters