Oil Set For Largest Weekly Gain Since October ...Middle East

Oil prices rose early on Friday and were on course to post their biggest weekly gain since October last year as Gulf of Mexico oil operators started evacuating personnel and shutting in production ahead of a hurricane expected to pass through the Gulf in the weekend. As of the start of trading today, WTI Crude was up 1.66 percent at $68.54 and Brent Crude traded at $72.13, up 1.49 percent. Despite Thursday’s retreat, oil prices were set on Friday for a large weekly gain of around 9 percent, driven by a more optimistic demand outlook with…

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