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Oil: Prices are expected to end the week on the rise

16/08/2024
Source : ORISHAS-FINANCE
Categories: Raw materials

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Despite a slight drop on Friday, oil prices are expected to see a second straight week of increases, as recent US economic data reinforced optimism about demand from the world's largest oil consumer.

Brent crude futures rose by about 1.5% this week, while American West Texas Intermediate crude futures rose by around 1.3%. On Friday, Brent fell by 15 cents, or 0.19%, to $80.89 per barrel at 08:10 GMT, while WTI fell by 25 cents, or 0.32%, to $77.91 per barrel. Crude oil prices are also supported by ongoing geopolitical risk

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