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Crude Falls on Stronger USD as US CPI Beat Expectations

OIL

USD is lifted across the board after US CPI beat expectations

Fed swaps now show 75bps fully priced for the next meeting.

Brent and WTI prices have dipped back into negative territory after the release:

  • Brent NOV 22 down -0.8% at 93.24$/bbl
  • WTI OCT 22 down -0.8% at 87.08$/bbl
  • WTI-Brent up 0.01$/bbl at -6.55$/bbl
  • Brent NOV 22-DEC 22 down -0.07$/bbl at 1$/bbl
  • Brent DEC 22-DEC 23 down -0.09$/bbl at 9.17$/bbl

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