Oil closes with significant weekly gains of more than 20%
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Brent crude closed in its last session, Friday, with a rise of 7.65 dollars to reach 118.11 dollars, but it achieved a large weekly profit of 20.18 dollars, equivalent to 20.61%.
The US West Texas Intermediate crude also closed with an increase of 8.01 dollars to reach 115.68 dollars per barrel and achieved weekly profits of 24.09 dollars, or 26.3%.
Oil prices rose last week, as crude oil prices jumped 7% in a volatile session, as fears of disruption to Russian oil exports due to Western sanctions outweighed expectations of an increase in Iranian crude supplies if Washington concludes a nuclear deal with Tehran.
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