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Oil Prices Lowly Rebounded Ten Months Ago, And Fell Nearly 4% Last Week
Jun 26, 2017

According to Reuters, oil prices rose on Friday, weakened by the dollar, but it declined this week for the fifth consecutive weekly, due to that the Organization of Petroleum Exporting Countries (OPEC) led the cut action failed to significantly reduce the global excess inventory.

Brent crudes closed up $ 0.32, or 0.7 percent, closed at $ 45.54 a barrel, while US crudes rose up $ 0.27, or 0.6 percent, closed at $ 43.01 a barrel.

Both contracted contracts fell 3.9% this week. Involvement in continuing concerns about increased production, the current oil prices is still at low level of the 10 months, with a five-week weekly decline, it is the longest decline since August 2015.

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