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The market has become highly sceptical of the supply disruptions due to rising tensions with Iran. This fueled economic slowdown concerns which helped the oil prices climb up on Wednesday. Also, a significant unexpected drop in US stockpiles supported the market in extending gains. Brent went up by 0.3% and was traded at $64.03 a barrel. WTI rose by 0.4% and was traded at $57.00 a barrel.
