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On Track For Weekly Loss

OIL

Crude futures rose slightly in Asia on Friday but are still set to end the week with losses. WTI is up $0.27 from settlement at $63.96,/bbl, Brent is up $0.26 at $66.71/bbl, both benchmarks on track to finish with losses of around 6.5%. The WTI benchmark is now over 18% off the July highs, meaning further weakness could tip oil into bear market territory. WTI has support at $63.17 - 1.00 proj of the Jul 6 - 20 - 30 price swing while resistance is seen at $67.48 - High Aug 13, Brent has support at $63.89 - Low May 21, while resistance is seen at, $65.75 - Low May 24 support turned resistance.

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