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A Petrobras oil platform floats in the Atlantic Ocean near Guanabara Bay in Rio de Janeiro.
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Oil markets stabilized on Friday amid OPEC supply cuts and tensions in the Middle East, after posting their steepest falls since the start of the year earlier in the week on the back of a global economic slowdown and swelling fuel inventories.
Brent crude futures, the international benchmark for oil prices, were at $68.05 per barrel at 0044 GMT, up 29 cents, or 0.4 percent, from their last close.
U.S. West Texas Intermediate (WTI) crude futures were up 36 cents, or 0.6 percent, at $58.27 per barrel.
“Multiple supply risks remain, as tension continues between Iran and the
Source cnbc.com
