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WTI Crude Oil Faces Resistance at $80.47 Eyeing Major Support Near $64 Amid Downtrend

CRUDE OIL was closed on Friday at weekly lower levels after testing the high level of $ 70.19 in the same weekly trading session as WTI crude oil futures dropped 0.8% to settle at $69.4 per barrel on Friday, due to concerns that the ongoing trade tensions, particularly between the U.S. and key trading partners, could spark a global recession. Despite this, oil prices recorded their third consecutive weekly gain, supported by U.S. sanctions on Venezuela and Iran.