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After climbing $ 0.52 or 0.8 percent to $ 62.79 per barrel on Thursday, crude for June delivery grew $ 0.23 or 0.4 percent to $ 63.02 per barrel.
Despite the day’s growth, crude for June delivery declined by $ 0.99 per barrel or 1.6 percent for the week.
The price of crude oil from an early recession to eliminate the day amid signs of reducing trade tension between the US and China, President Donald Trump denied China’s claims, saying that the two countries have not held any trade talks.
“He had a meeting this morning,” Trump told reporters on Thursday. “It doesn’t matter who they are. We can reveal it later, but they have meetings this morning, and we are meeting with China.”
Several reports, citing American businesses, also said that China has exempted some American imports from its 125 percent tariffs.
However, crude oil still slipped for the week due to a report by Reuters citing three sources familiar with OPEC+ Talk, stating that many members would suggest that the group intensifies increasing oil production over the second consecutive month in June.
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