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Crude Extends Decline Amid USD Strength

OIL

Crude extends the decline back negative on the day amid US dollar strength with the higher than expected US S&P global Oct. manufacturing PMI at 50 vs 49.8 prior.

  • Front month Brent is testing the lows from last week around 88.9$/bbl.
  • Brent first technical support is at the 50 day EMA of 88.15$/bbl with the bear trigger down at 83.44$/bbl.
  • Brent DEC 23 down -0.8% at 89.07$/bbl
  • WTI DEC 23 down -0.9% at 84.74$/bbl
  • Brent DEC 23-JAN 24 down -0.04$/bbl at 1.1$/bbl
  • Brent DEC 23-DEC 24 down -0.58$/bbl at 7.15$/bbl
  • WTI DEC 23-JAN 24 down -0.14$/bbl at 0.93$/bbl
  • WTI DEC 23-DEC 24 down -0.65$/bbl at 7.44$/bbl

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