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Oil trims gains, but heads for third weekly rise on demand recovery

From reuters.com

Oil prices slipped on Friday but were set for their third weekly rise on expectations for a recovery in fuel demand in Europe, China and the United States as rising vaccination rates lead to an easing of pandemic curbs.Brent crude futures fell 23 cents, or 0.3%, to $72.29 a barrel at 0145 GMT, reversing most of Thursday’s climb to its highest close since May 2019. U.S. West Texas Intermediate (WTI) crude futures slipped 22 cents, or 0.3%, to $70.07 a barrel, after climbing 0.5% on Thursday to its highest close since October 2018. Brent is set for a gain of 0.5% this week while WTI is set to climb 0.6%. “If you take ... (full story)

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  • Category: Fundamental Analysis