Oil heads for 2% weekly gain on tight U.S. supply

2% weekly increase in oil prices due to constrained U.S. supply and strong Chinese demand

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Due to limited U.S. supply and forecasts of high fuel demand in China for the Golden Week vacation, oil prices increased slightly on Friday and were on track to rise 2% for the week. Prior to the contract’s expiration later in the day, front-month Brent November futures were up 42 cents, or 0.44%, to $95.80 … Read more

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