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Oil scores 6th straight weekly rise after supply cuts

Por: MarketWatch Business August 07, 2023

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Price action Market drivers WTI saw its highest close since April 12, while Brent closed at its highest since April 14. Oil ended the week on a positive note, recovering from a Wednesday stumble that followed a Fitch Ratings cut of the U.S. sovereign credit rating to AA+ from AAA that dented market sentiment. Crude regained its footing after Saudi Arabia on Thursday said it would extend a 1 million barrel-a-day cut in production through... + full article



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