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Oil Prices Notch Weekly Gain After New Round of US Sanctions
- Oil prices rose to a two-week high on Thursday amid supply concerns and new U.S. sanctions on Iran.
- Tighter global supplies arose from new U.S. sanctions targeting Iranian oil exports, impacting a China-based refinery.
- Brent crude futures increased to $66.32 a barrel, while U.S. West Texas Intermediate crude reached $63.02.
- IG analyst Tony Sycamore said factors behind the rally include short covering, the weaker dollar, and U.S. pressure on Iran.
- OPEC and IEA both cut forecasts for oil prices and demand growth this week, despite gains on tighter supply.
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28 Articles
28 Articles
Coverage Details
Total News Sources28
Leaning Left1Leaning Right1Center5Last UpdatedBias Distribution72% Center
Bias Distribution
- 72% of the sources are Center
72% Center
14%
C 72%
14%
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