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Crude oil prices and related ETFs surged on Wednesday as the Caspian Pipeline Consortium pipeline added to another layer of concerns over global supplies.
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Oil exchange traded funds plunged on Tuesday, with crude prices trading below $100 and hitting their lowest levels in almost three weeks.
After recently reaching their highest levels in nearly a decade, crude oil and related ETFs continued to retrace on Monday, falling another 8%.
Crude oil prices and related ETFs bounced on Friday but were still heading toward a weekly loss as traders weighed the possibility of further disruptions.