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Crude oil futures end lower on Friday amid slightly easing Ukraine tensions

19 Feb 2022 Evaluate

Crude oil futures ended lower on Friday amid slightly easing Ukraine tensions and signs of negotiations to restore the Iran nuclear deal. U.S. Secretary of State Antony Blinken and Russian Foreign Minister Sergey Lavrov are expected to meet next week in Europe over Ukraine and European security issues. A report from Baker Hughes said the number of active U.S. rigs drilling for oil rose by 4 to 520 this week. The report said the total active rigs, including those drilling for natural gas, climbed by 10 to 645.

Benchmark crude oil futures for March delivery fell $0.69 or 0.36 percent to settle at $91.07 a barrel on the New York Mercantile Exchange. However, Brent crude for April delivery rose $0.57 or 0.6 percent to settle at $93.54 a barrel on London's Intercontinental Exchange.