Oil Posts Least Volatile Week Since 2021 With Prices Rangebound
- WTI slips away from key $80-a-barrel marker in New York
- Brent sees narrowest weekly trading range since 2021
Pipes for the Keystone XL pipeline stacked in a yard near Oyen, Alberta, Canada.
Photographer: Jason Franson/BloombergThis article is for subscribers only.
Oil eased lower as a brief outage on North America’s Keystone pipeline failed to shake prices out of the tightest weekly trading range in years.
West Texas Intermediate fell 1.2% to settle near $78, further retreating from the key psychological level of $80 a barrel. Meanwhile, pipeline operator TC Energy Corp. confirmed Keystone’s integrity, adding that service was temporarily suspended “as a precautionary measure” and that no crude was released.