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(M2) Correction Extends


Late Session Rebound


(M2) Corrective Cycle Remains In Play


(M2) Gains Still Considered Corrective

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Oil is lower in Asia-Pac trade on Friday, WTI is down $0.28 from settlement levels at $68.53/bbl while Brent is up $0.35 at $70.96/bbl. Crude futures are under pressure from a stronger dollar but still on track for a second straight weekly gain as robust performance earlier in the week took the benchmarks to the highest since 2018. Prices are supported by a draw in headline DOE crude stocks, inventories fell 5.08m bbls, double the expected draw, downstream figures were less bullish.

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