SA: Crude oil wraps up eighth straight week of price gains

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SEEKING ALPHA reports:

– U.S. crude oil futures closed above $82/bbl at a new seven-year high, as a natural gas supply crunch in Europe and optimism about demand in the U.S. continued to propel the recent rally.

– November WTI crude (CL1:COM) closed +1.2% to $82.28/bbl, for the best front-month finish since October 2014, while December Brent (CO1:COM) climbed above $85/bbl in London for the first time since 2018 before settling at $84.86.

– WTI rose 3.7% for the week and Brent added 3%, the eighth straight weekly gain for both…

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