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Crude futures are higher in Asia, WTI is $0.19 higher from settlement levels at $64.90/bbl, while Brent is up $0.14 at $68.23/bbl. The move higher today has been supported by a slight pullback in the greenback and improved risk appetite. For the week the benchmarks are up over 2%, the second straight weekly gain.
- If the move higher can continue WTI looks to the March 15 high at $66.15 which has been probed but not convincingly broken. A clear break would pave the way for a test of the key hurdle for bulls at $67.29, Mar 8 high.