Energy Preview: WTI crude oil at one-week low

WTI crude oil futures dipped to a one week low, extending slide from the previous session when the counter fell nearly 3.5%. The decline in the counter came amid reports Iraq?s Kurdistan region resumed exports following a 2.5-year halt, adding supply to a market facing surplus risks. Moreover, possibility of production increase by the Organization of the Petroleum Exporting Countries and allies, including Russia, following the resumption of Oil exports from Iraq's Kurdistan region is adding pressure on oil prices. Currently, crude oil futures are down 0.60% at $63.07 per barrel.

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