Crude oil prices rose for another week with both WTI and Brent crude contracts soaring to highest levels in 4 months. Hopes of decline in US crude production lifted sentiment with Baker Hughes’ report on Friday adding to the optimism. It estimated that the number of oil rigs plunged -31 units to 734 in the week ended April 24.
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Weekly Fundamentals – Crude Oil Supported by Speculative Trades
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