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Market Update: Brent Crude Heads for Fourth Weekly Gain
Brent crude futures were trading around $73 a barrel on Friday, not far from an over two-year high of $74.96 per barrel hit on Wednesday, amid an improved outlook for demand as the coronavirus vaccination campaign continues, economies reopen, and people start to travelling and going back to workplaces. On the supply side, OPEC+ recently agreed to keep to their plan to gradually ease supply curbs through July, signalling the ongoing strengthening of market fundamentals. As a result, the international benchmark rallied nearly 1% this week, on track for a fourth consecutive week of gains. [/s2If]
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