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Crude Extends Gains as China Considers Property Market Support

OIL

Crude extends gains with potential support for demand in China. China is weighing at a new basket of measures to support the property market and economy according to Bloomberg sources.

  • The potential support comes after the recent weak manufacturing data in China has added bearish pressure to oil prices.
    • Brent AUG 23 up 1.7% at 75.54$/bbl
    • WTI JUL 23 up 1.7% at 71.3$/bbl
    • WTI-Brent down -0.09$/bbl at -4.16$/bbl
    • Brent AUG 23-SEP 23 up 0.08$/bbl at 0.15$/bbl
    • Brent DEC 23-DEC 24 up 0.44$/bbl at 3.25$/bbl

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