Oil Prices Set for a Weekly Loss as Supply Concerns Fade ...Middle East

Crude oil prices were trending down earlier today, extending a two-day losing streak as bearish news crowded out any bullish signals. Earlier in the week, news emerged that the rival governments in Libya had struck an agreement about the appointment of a new central bank governor, signaling oil production and exports would soon return to normal, alleviating supply squeeze concerns. The latest blow to prices came from Saudi Arabia. On Thursday, the FT reported citing unnamed sources that the kingdom considered dropping its oil price target of $100…

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