Oil Advances as OPEC+ Supply Boost Vies With Geopolitical Risk
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Oil gained as a third straight production increase by OPEC+ vied with heightened geopolitical risk in Ukraine and Iran.
Brent crude for August rose as much as 2.1% to $64.09 a barrel, after losing 2.2% last week, while West Texas Intermediate was below $62. The Organization of the Petroleum Exporting Countries and its allies agreed on Saturday to add 411,000 barrels a day of supply in July, according to a statement.
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