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Oil extended gains on falling US crude inventories

Oil extended gains on falling US crude inventories



International benchmarks for crude oil jumped about 2% on Friday, 9 July 2021 as the market reacts to the falling US crude inventories reports. However, the weekly average fell 0.8% - the first fall since May due to the impasse in OPEC+ production output talks. 

Brent was up $1.43, or 1.93% to $75.55/barrel. 

WTI jumped $1.62, or 2.2% to $74.56/barrel.