Oil prices traded lower on Friday after the U.S. eased some sanctions on the oil industry in Venezuela.
A stronger dollar also prompted traders to book some profits after prices hit their highest levels since September the previous day amid tensions in the Middle East and production outages in Kazakhstan.
Benchmark Brent crude futures were down 0.9 percent at $68.99 a barrel while WTI crude futures fell 0.9 percent to $64.84.
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May 22, 2026 14:46 ET Minutes of the latest Fed policy session was the highlight of the week along with survey data on the U.S. housing market. In Europe, survey data signaled the trends in the euro area private sector. Further, consumer price inflation data from the U.K. was in focus. In Asia, various economic indicators from China drew attention to the health of the economy.