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Crude Extends Decline on Banking Sector Risks

OIL

Crude extends the decline to lose most of the gains since Tuesday with a strengthening US dollar as risk sentiment deteriorates amid wider concerns about the stability of the banking sector.

  • Next technical support for Brent is at the 21 Mar low of 72.82$/bbl and the bear trigger at the 20 Mar low of 70.12$/bbl. WTI support is at 66.9$/bbl and 64.36$/bbl.
    • Brent MAY 23 down -3.3% at 73.39$/bbl
    • WTI MAY 23 down -3.6% at 67.45$/bbl
    • WTI-Brent up 0.1$/bbl at -5.93$/bbl
    • Brent MAY 23-JUN 23 down -0.01$/bbl at 0.4$/bbl
    • Brent JUN 23-DEC 23 down -0.38$/bbl at 1.1$/bbl
    • Brent DEC 23-DEC 24 down -0.67$/bbl at 1.99$/bbl

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