PLATTS: 100--OIL FUTURES: Crude climbs for fourth day, ends week lower amid oversupply concerns
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Crude oil futures rose for the fourth consecutive session but ended the week lower due to global supply surplus concerns. WTI and Brent prices fell 1.4% and 1.1% respectively over the week. The market is influenced by record-high US output, OPEC+ increases, and IEA surplus projections. Meanwhile, US-led peace efforts in the Ukraine war are ongoing, with potential negotiations between Russia and Ukraine. Ukrainian drones targeted a Russian tanker, prompting a response from President Putin.
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