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At Close: Jun 03, 2026

Oil futures gain nearly 9% for the week

02:57pm, Friday, 10'th Feb 2023
Oil futures tallied a weekly gain, finding support Friday from Russia's plan to cut its oil output by 500,000 barrels per day in March after Western nations implemented price caps on its crude and cru
Crude oil markets have rallied during the week, as we continue to trade in the same range, we have been in for the last several months.
WTI oil is trying to settle above the $80 level, while Brent oil climbed back above $86.
Crude oil markets have rallied a bit during the trading session on Friday, as we have seen a lot of momentum, but at this point we are still within a trading range.
CNBC's Pippa Stevens joins ‘Squawk on the Street' to report on rising oil prices after Russia announced that it would cut oil output by 500,000 barrels per day in March.
The Kremlin said its decision was in response to Western price caps on Russian oil.
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