Oil Steadies After Weekly Loss as Market Looks Ahead to Fed Rate

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West Texas Intermediate,International Energy Agency

(Bloomberg) -- Oil was steady after a weekly drop with the market still digesting OPEC+’s decision to start restoring supply, and looking ahead to a couple...

-- Oil was steady after a weekly drop with the market still digesting OPEC+’s decision to start restoring supply, and looking ahead to a couple of key market reports and a Federal Reserve decision.Brent traded near $79 after a barrel after losing 2.5% last week as algorithmic trading amplified declines following the alliance’s announcement it would starting adding more supply to the market from the third quarter. West Texas Intermediate was close to $75.

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