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Oil Posts Second Weekly Gain as Debt-Limit Deal Inches Closer

  • Negotiations continue on spending package to avert US default
  • Markets weighing mixed messages from OPEC+ on production
Updated on

Oil rose a second consecutive week as investors monitored progress made Friday on debt-ceiling talks to avoid a US default.

Republican and White House negotiators were moving closer to an agreement to raise the debt limit, according to people familiar with the matter. Still, the agreed-upon details are tentative, and a final accord isn’t in hand.