OIL FUTURES: Crude rallies as tight global supply overshadows rescission fears

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Crude oil futures settled higher July 29 as tight supply outlooks and a weaker US dollar overshadowed economic uncertainty and recession fears. NYMEX September WTI settled $2.20 higher at $98.62/b, and ICE September Brent climbed $2.87 to $110.01/b. OPEC+ delegates said July 29 there is a real possibility the group will not raise production in September, despite intense lobbying efforts…