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Oil eases ahead of Christmas break on possible future Angola output increase
Oil prices eased on Friday ahead of the long Christmas holiday weekend on expectations Angola could increase output after leaving OPEC, but rose for the week on positive US economic news and worries Houthi ship attacks would boost supply costs. Brent futures fell 32 cents, or 0.4 per cent, to settle at $79.07 a barrel, while US West Texas Intermediate (WTI) crude fell 33 cents, or 0.5 per cent, to settle at $73.56. That left both benchmarks up about 3 per cent for the week after gaining less than 1 per cent last week. Red Sea route tensions impact oil prices In the Middle East, more maritime carriers said they were ... (full story)