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Oil On Track For Another Weekly Gain

OIL

The broader DXY consolidated Thursday's losses during Asia-Pac trade, while mixed equity market performance did little for crude futures over the session. This left WTI & Brent futures just a handful of cents higher on the day after the benchmarks added a little over $1.00 apiece come yesterday's settlement. Oil is on track to lodge a fifth consecutive weekly gain, supported by a tightening supply-demand backdrop, which has intensified on the back of the well-documented northern hemisphere gas shortage.

MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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