Oil prices were marginally higher on Monday’s trading session on rising belief that the U.S. will avoid a default. Front-month Nymex crude oil (CL1:COM) for June delivery was up 0.65% to $72.17/bbl at 1215 Hrs ET while front-month July Brent crude (CO1:COM) gained 0.21 to trade at 1.9% on the week to $75.
71/bbl. Last week, both oil benchmarks gained ~2%, marking their first rise in five weeks, after wildfires shut in large amounts of crude supply in Alberta, Canada. The Canadian energy sector is reeling after the shutting in of at least 145,000…Oil Prices Inch Higher As Debt Ceiling Talks Drag On
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