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Oil prices are heading for a weekly decline of about 12%, as tensions in the Middle East are expected to ease after the U.S. midterm elections, despite lingering concerns about supply. Brent crude rose 1.6% to $99.86 a barrel, while West Texas Intermediate gained 1.22% to $91.62, after prices fell 8% on Wednesday. Attacks on tankers in the Gulf and the Strait of Hormuz have revived fears of disrupted shipments and added pressure to insurance and shipping costs.
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