Despite the continued bearish sentiment, oil markets saw a bit of support over the past week, resulting from the sharp decline in the crude oil inventories as reported by the EIA. Last Thursday, prices Brent hit its highest level since March at $43.23, closing at $42.78, up by 4.11% w/w, while WTI closed at $40.32, up by 4.54% w/w, with a spread of $2.46 which narrowed by $0.07 w/w.

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