Oil Falls a Second-Straight Week Even With Macro Price Boost
- Fed rate-hike more likely; Asian oil refining margins weak
- WTI traded above $76, swung with equities for most of the week
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Oil fell for a second consecutive week even as an earnings-driven rally on Wall Street pushed prices higher.
West Texas Intermediate rose the most in almost four weeks Friday, boosted by risk-on sentiment that benefited commodities across the board. Oil largely tracked broader market trends this week as many traders avoided staking out big positions while they await the next US central bank decision.