US West Texas Intermediate and Brent decline but are on track for weekly gains
A worker checks the valve of an oil pipe at the Lukoil company owned Imilorskoye oil field outside the Siberian city of Kogalym, Russia. File photo: REUTERS/SERGEI KARPUKHIN
However, WTI and Brent are both set for weekly gains of at least 4%, the most for the two benchmark contracts since the week ending July 3. Analysts were also watching the lack of progress in the talks between the White House and Democrats over the next coronavirus stimulus package, with Democrats saying President Donald Trump may have to issue executive orders if he does not want to negotiate further.
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