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WTI & Brent added a few cents to settlement.....>

OIL
OIL: WTI & Brent added a few cents to settlement levels, leaving the metrics on
target for a second consecutive weekly loss, as Wednesday's larger than exp.
headline build in U.S. crude inventories nullified the effect of the escalation
in U.S.-Saudi tensions earlier in the week.
- On Thursday the WSJ noted that "rising crude oil inventories and increased
output in the U.S. could push oil prices down in the coming weeks, an internal
OPEC report said Thursday. A coming "seasonal scale back in refinery
demand...could result in oil stock builds," said an internal market report,
which was circulated late Thursday within the Organization of the Petroleum
Exporting Countries" and reviewed by The Journal.
- Baker Hughes rig count data will hit later Friday.
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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