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Oil prices snap 7-day losing streak as investors hunt for bargains

August 23, 2021

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Oil prices jumped 3% on Monday, recovering from a seven-day losing streak, with gains driven by a weaker dollar despite demand concerns stoked by rising cases of the Delta coronavirus variant.

Brent crude climbed $2.15, or 3.2%, to $67.33 a barrel by 1052 GMT after touching its lowest since May 21 at $64.60.

U.S. West Texas Intermediate (WTI) crude for October delivery rose $2.01, or 3.1%, to $64.15.

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