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Crude Oil Pressured by Rising Supply and Stronger Dollar Amid Geopolitical Risks

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The Story

News Summary

  • Crude oil prices settled mixed on Friday, with WTI posting modest losses.
  • Bearish pressure comes from a rallying dollar, increased Persian Gulf exports, and potential Venezuela OPEC exit.
  • However, significant geopolitical risks, including US-Iran tensions and attacks on energy infrastructure, provide underlying support, limiting declines.
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