Oil prices are set for a second consecutive weekly gain but the upside remains limited due to continued economic concerns.Friday, July 7th, 2023Oil prices are set to end the week with a slight gain after the market eventually priced in Saudi Arabia’s production cut extension into August as well as another steeper-than-expected US crude inventory drop, pushing ICE Brent closer to the $77 per barrel mark.
The upside remains limited, however, as the prospect of another US interest rate hike becomes part of mainstream expectations, with the Fed…Oil Prices Remain Capped By Economic Concerns
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