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Oil prices rise for the second straight day as US inventories decline

US West Texas Intermediate futures were up $1.41, or 1.9 per cent, at $74.35.

Oil prices rise for the second straight day as US inventories decline
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Reuters
Oil prices rose for the second straight day on Friday, as data showed a draw in US inventories, but were heading for a weekly loss amid uncertainty over global supplies after an Opec+ impasse. Brent crude oil futures were trading at $76.10 a barrel, at the time of going to press. US West Texas Intermediate futures were up $1.41, or 1.9 per cent, at $74.35.

Prices on both sides of the Atlantic were on track for around a 1 per cent weekly drop, dragged down by the collapse of output talks between the Organization of the Petroleum Expor­ting Countries (Opec)

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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