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Crude Drops as US Data Boosts Greenback

OIL

Crude prices have relinquished some gains following the release of US payroll data this week which was above expectations. The data has caused a boost in USD strength which is likely to be subsequently weighing on oil prices.

  • Brent MAR 24 up 0.6% at 78.07$/bbl
  • WTI FEB 24 up 0.9% at 72.83$/bbl
  • WTI FEB 24-MAR 24 up 0.07$/bbl at -0.1$/bbl
  • WTI MAR 24-APR 24 up 0.06$/bbl at -0.04$/bbl
  • Dec non-farm payrolls: +216k (175k survey), unemployment rate 3.7% (3.8% survey). Non-farm payroll data
  • Bloomberg US dollar index is up 0.36% on the day to 1229.55.

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