Global crude oil prices post weekly loss of nearly 5%

Global crude oil prices posted a weekly loss of nearly 5%, on the prospect of weaker global growth, higher interest rates and COVID-19 lockdowns in China may hurt demand even as the European Union considers a ban on Russian oil that would tighten supply. Brent crude oil future settled at 106.65 dollars a barrel. US crude finished the week at 102.07 dollars. Global benchmark Brent hit 139 dollars a barrel last month, its highest price since 2008, but both oil benchmarks declined nearly 5% this we...