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Oil prices settled on Friday on the grounds of producer cartel OPEC's supply cuts and the US sanctions on petroleum exporters Iran and Venezuela. WTI went up by 0.3%, to $63.78 per barrel. International Brent increased by 0.3% and was traded at $71.01 per barrel. According to a Canadian Bank, “Geopolitically infused rallies could shoot prices toward or even past the $80 per barrel mark for intermittent periods this summer”.