Oil slipped on supply, inflation fear

International benchmarks for crude oil settled lower on Friday, 12 October 2021 on the concerns that the US Federal Reserve might increase interest rates to combat inflation, while the US government continues to discuss whether to release more oil from its strategic reserve.

Brent loses 70 cents to close at $82.17/barrel.

WTI slipped 80 cents to close at $80.79/barrel.