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Crude and Spreads Extend Rally

OIL

Crude extending rally with Brent through first resistance with the next level at the August high of 102.41$/bbl. WTI also traded through technical resistance at 94.17 / 94.31$/bbl.

  • Brent time spreads also pushing higher with the prospect of tight supplies if OPEC were to cut production.
  • Brent OCT 22 up 1.3% at 101.56$/bbl
  • WTI OCT 22 up 1.2% at 94.9$/bbl
  • WTI-Brent down -0.19$/bbl at -6.66$/bbl
  • Brent OCT 22-NOV 22 up 0.14$/bbl at 1.19$/bbl

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