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International benchmarks for crude oil settled the final trading day of last week, 9 December 2022 lower after weak economic data from China and Europe. Meanwhile, producer prices index in the US rose slightly in November coupled with the increase in costs of services once again posed a possibility that the FED would accelerate the interest rate hikes. Both benchmarks lose about 10% over the past week.

Brent inched 5 cents lower to close at $76.10/barrel. 

WTI fell 44 cents to close at $71.02/barrel.