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Crude Oil Price Pressured by Global Oversupply Concerns

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Crude oil and gasoline prices are under pressure today due to expectations that OPEC+ will increase its crude production level by another 411,000 bpd when they meet on Sunday .

Comments from President Trump also weighed on crude prices when he said he might back sanctions relief for Iran "if they can be peaceful" Losses in crude are limited after the dollar index today fell to a 3-1/4-year low.

Weakness in US economic news is negative for energy demand and crude prices.