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Oil spikes to six-year highs and then falls back after OPEC Plus fails to reach a deal.


Daily Business BriefingJuly 6, 2021Updated July 6, 2021, 12:47 p.m. ETJuly 6, 2021, 12:47 p.m. ET Oil tanks at a Saudi Aramco facility in Abqaiq, Saudi Arabia. The country, a member of OPEC Plus, has resisted oil production demands from the United Arab Emirates.Credit…Maxim Shemetov/ReutersOil prices touched their highest levels in years on Tuesday, a day after OPEC, Russia and their allies failed yet again reach agreement on production increases. A teleconference planned for Monday never started, following meetings on Thursday and Friday that did not reach a deal.West Texas Intermediate, the U.S. benchmark rose as high as $76.98 a barrel …

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