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Oil prices rose slightly today but hovered near three-week lows as fears of slower growth in major economies cause demand worries. The Fed opted to raise interest rates last week which boosted the dollar, another headwind for oil prices. China’s reopening has been supportive of prices, and the IEA is forecasting that half of the gain in oil demand this year will come from the PRC. Also helping prices is the shutdown of Turkey’s major oil export terminal, a result of the devastating earthquake earlier today. The facility has plenty of storage capacity available but it is unknown at this time how long it will be shut down. WTI traded up $.20 or .3% to close at $73.59. Brent traded up $.46 or .6% to close at $80.40.