Oil prices are falling in this Friday's session and this behavior reinforces the path of the first weekly drop in more than a month for both Brent crude traded in London and WTI crude in New York.

The North Sea Brent contract depreciates 2.55%, in what will be the first weekly drop since the week ended April 22.

Fears about global growth because of the wave of interest rate hikes in the US, UK and Switzerland have led oil prices to fall in expectation of a slowdown in demand.

Meanwhile, barrel quotes rose more than 1% this Thursday after the White House announced further sanctions on Iran, one of the world's leading producers and considered one of the most relevant countries to replace Russian oil in the event of a new nuclear deal.

The International Energy Agency expects demand to continue to grow in 2023, rising more than 2% to a record 101.6 million barrels per day. Optimism about China's demand recovery after the Covid-19 restrictions were also supporting prices.