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Barchart
Barchart
Rich Asplund

Concerns of a Global Crude Oil Glut Undercut Prices

August WTI crude oil (CLQ25) on Friday closed down -0.20 (-0.30%), and August RBOB gasoline (RBQ25) closed down -0.0170 (-0.78%).

Crude oil prices gave up an early advance on Friday and settled lower, amid concerns that Iraq will soon boost its crude exports after approving a plan for its semi-autonomous Kurdish region to resume crude exports through the Iraq-Turkey pipeline.  

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