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Oil prices log worst week since February as concerns over Middle East supply risks fade

From msn.com

Oil futures finished lower Friday — with easing concerns over potential supply disruptions in the Middle East, strong U.S. production and signs of slowing demand prompting prices to register their largest weekly percentage loss since early February. Traders tied an early Friday rise in oil prices to a news report that some OPEC+ members would be willing to extend production cuts beyond the end of the second quarter. Price moves West Texas Intermediate crude for June delivery fell 84 cents, or 1.1%, to settle at $78.11 a barrel on the New York Mercantile Exchange, for a weekly fall of nearly 6.9%. July Brent crude the ... (full story)

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  • Category: Fundamental Analysis