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Oil set for weekly gain as supply risk weighed against trade war


TOKYO: Oil is poised for a weekly gain as investors weigh potential supply losses from Iran against ongoing concerns over a trade spat between the world’s two biggest economies.

Futures in New York increased as much as 0.5 percent, on course for a weekly gain of 1.6 percent. The International Energy Agency warned prices could rise further unless other producers offset falling output in Iran and Venezuela. That came after U.S. government data showed slowing oil production growth and shrinking inventories. 

Oil & Gas , Brent , WTI

   

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