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WTI Crude Oil Bearish Channel Signals Potential Drop Towards Key Support at $55

CRUDE OIL was closed on Friday at weekly lower levels after testing the high level of $ 77.27 in the same weekly trading session as posted their sharpest weekly declines in years as geopolitical risk premiums faded. Trump has sent mixed signals about his pressure campaign on Iran’s oil revenues, admitting US sanctions have done little to stop China’s purchases.