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Crude Extends Losses

OIL

Crude prices are extending losses to the lowest since 10 January amid concerns for economic growth in China after Q4 growth data came in slightly below expectations, a higher US dollar and yesterday’s remarks from the Fed’s Waller saying there is no need for rapid rate cuts. This is offsetting the supply risks from Red Sea disruptions and Libya.

  • Brent MAR 24 down -2.2% at 76.6$/bbl
  • WTI FEB 24 down -2.4% at 70.69$/bbl

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