Brent oil price at $52 at week ending Sept 1

- Brent crude price at $52.80 per barrel while WTI sees $47.13 on Friday

International benchmark Brent crude fell by 0.11 percent to $52.80 per barrel on Friday at 11.33 GMT.

American benchmark West Texas Intermediate (WTI) decreased by 0.21 percent to $47.13 at 11.34 GMT.

During the week, Hurricane Harvey caused shut downs in major U.S. refineries.

In response, the U.S. Department of Energy announced that the strategic petroleum reserve would send 500,000 barrels of oil from the underground store in West Hackberry to Louisiana's Phillips 66 refinery in Lake Charles.

 

U.S. crude inventories fell 5.4 million barrels during the week ended Aug. 25 to 457.8 million barrels, the Energy Information Administration said on Wednesday.

The oil market is eyeing the weekly oil rig count from Baker Hughes, who reported last week that the rig count increased by four to reach a total of 759.

By Zeynep Beyza Kilic

Anadolu Agency

energy@aa.com.tr