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Oil Updates – crude set for weekly gain as demand signs, geopolitics seen as positives

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SINGAPORE: Oil rose on Friday, set for a weekly gain, as data this week from the US and China, the world’s two largest crude users, pointed to higher demand and continuing uncertainty over the Gaza war supported prices, according to Reuters.

Falling US crude inventories spurred by higher refinery runs coincided with data released on Thursday showing China’s oil imports in April were higher than last year on signs of improving trade activity.

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