Oil prices remained choppy on Friday morning as the United States and allies considered releasing more oil.
traded lower on Friday morning as the European Union and United States unveiled a deal to supply Europe with more U.S. liquefied natural gas , as leaders of the European bloc meet to curb their reliance on Russian fossil fuels and deal with an energy crunch, according to Reuters.
U.S. West Texas Intermediate crude futures fell $1.66 to $110.69 a barrel, having dropped 2.3% in the previous session.Both contracts are still headed for their first weekly gains in three weeks, according to Reuters, Supply concerns increased this week when it was announced that the Caspian Pipeline Consortium terminal on Russia's Black Sea coast stopped exports after being damaged by a storm.
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