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Set For Worst Week Since March

OIL

Oil is flat in Asia-Pac trade after declining for a third session on Thursday; WTI is down $0.02 from settlement at $71.63, Brent is down $0.04 at $73.44. Both benchmarks are on track for their worst week since mid-March as OPEC+ members near a deal that would allow the group to increase output. There is also demand concern as the delta variant of coronavirus picks up steam leading to renewed restrictions. From a technical perspective WTI sees support at $70.76, July 8 low and key support, while Brent bears target $72.11 the July 8 low and key near-term support.

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