Oil Ends Bullish Week With a Slip

摘要

Oil slipped on Friday, backing away from recent highs as the market weighed the implications of crude near $80. Traders said that while the day’s price action was negative, crude and refined products remain in an uptrend, fueled by robust near-term demand and geopolitical tensions, including the potential that Venezuelan elections on May 20 will result in broader sanctions against the country by the US (IOD May18’18).