Oil Extends Three Weekly Drops With Focus On Demand Outlook

Oil rebounded slightly at the end of last week after Wednesday slipping below $80 for the first time since July, with bearish consumption signals from China, the US and Europe prevailing. Supply from the Middle East — the source of about a third of the world’s crude — has remained unaffected by the conflict between Israel and Hamas, while shipments from Russia and the US are increasing. 

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