Energy prices post weekly declines, Brent falls 5.25%

Energy commodities, posting mixed figures during week, closed Friday with declines amid uncertainties related to the ongoing tensions in the Middle East.

After news flow signaling a possible easing of tensions between Iran and the US, energy prices saw weekly declines.

Brent futures, starting week above $110 level, ended at $103.9 per barrel, down 5.25% week-on-week on Friday.

West Texas Intermediate (WTI) prices dropped by 4% to $96.9 per barrel, from $106.5.

Benchmark Dutch TTF futures, Europe’s main natural gas contract, plunged 4% from €51 to €48.7 per megawatt-hour.

Heating oil prices decreased by 3.6% to $3.9 as of the end of this week from the previous week.