Oil prices continued with their upward trend especially WTI during last week; the premium of Brent over WTI also continued to contract. The rapid changes in Europe including the recent changes in Italy and Greece helped stir up the financial markets and may have been among the leading factors to affect the changes in oil prices throughout the week. The IEA revised down its projections for the global oil demand, and OPEC's oil production remained virtually unchanged in October.
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