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Crude Oil Weekly Outlook

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Crude Oil Weekly Outlook: Oversupply Risks Challenge WTI & Brent Despite Hormuz Tensions

Crude Oil Weekly Outlook: Broader crude oil oversupply risks continue to weigh on the recent 10%+ rebound in prices following the latest strikes near the Strait of Hormuz. While geopolitical tensions continue to support risk premiums, technical levels remain well respected and will be key in determining the next major move for WTI and Brent crude.