- WTI rose above $83.00 to its highest point since mid-April, seeing more than 1.70% gains.
- The WTI barrel will set a sixth consecutive winning streak, and indicators flash overbought conditions.
- The USD weakened following NFPs figures revealing a deceleration of job creation in July.
At the end of the week, the West Texas Intermediate (WTI) barrel surged to a daily high above $83.00 for the first time since April. Expectations of Oil production cuts by the Saudis and the weakness of the US Dollar are the main responsible for the upwards trajectory of the black gold.
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