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CRUDE OIL WEEKLY ANALYSIS

CRUDE OIL closed on Friday at its weekly support levels after tested the high level of $ 70.54 in the same weekly trading session as WTI crude oil futures declined 2.4% to settle at $67 per barrel on Friday, booking a weekly loss of 5%, pressure by concerns over China’s waning demand and stronger US dollar. China’s crude processing dropped 4.6% in October, reflecting slower factory output and persistent demand issues.