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Oil Settles Higher After Choppy Trading

M. Ali 29 June, 2021 11:14 pm Commodities, Market Update

Oil prices fluctuated on Tuesday, recovering from losses before giving up some of its daily gains, but managed to close higher with markets anticipating the coming OPEC+ decision on production policy.

Concerns over the rising number of coronavirus (COVID-19) cases in a number of countries continue to limit the effect of the positive expectations for demand recovery during the second half of the year.

Brent crude futures for August delivery rose by eight cents, or 0.11%, and closed at $74.76 per barrel.

In the New York Mercantile Exchange (NYMEX), the West Texas Intermediate (WTI) futures for August delivery finished higher by seven cents, or 0.10%, at $72.98 a barrel.

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