Oil prices mixed; Brent closes at $82

Oil drilling rigs

Oil prices were mixed today, Feb. 12, amid profit-booking following last week's gains that exceeded 6%.

Brent crude for April delivery fell by about 0.25%, or 19 cents, to close at $82 per barrel, paring losses after they touched $80.77 during trading.

WTI crude for March delivery increased by 0.1%, or 8 cents, to $76.92 per barrel, erasing the session’s losses after falling to $75.54.

Fitch expects major oil companies in Europe, the Middle East and Africa to achieve between 75% and 85% of their earnings before interest, taxes and depreciation in 2035 from traditional oil and gas businesses, despite plans to enhance the share of low-carbon activities.

Meanwhile, Goldman Sachs maintained its forecast for Brent crude prices to range from $70 to $90 per barrel this year, despite potential weakness in Chinese demand, due to OPEC+ production cuts and ongoing geopolitical tensions.