Oil prices set to end week higher after U.S. rate cut

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00:00Oil prices eased but were poised for a second straight week of gains due to a U.S. interest

00:05rate cut and declining global stockpiles.

00:09Brent crude fell to $74.38 a barrel and with U.S. WTI dropped to $71.47 a barrel, yet both

00:19saw weekly increases of 3.7% and 4% respectively.

00:24Analysts noted while interest rate cuts improve sentiment, it takes time for these changes

00:29to boost economic activity and oil demand.

00:32Additionally, U.S. crude inventories have reached a one-year low supporting prices.

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