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Crude Futures On Track To End Four-Day Rally


Oil is lower in Asia-Pac trade, on track to end a 4-day rally that saw WTI gain over 6.5%. WTI is down $0.40 from settlement levels at $65.81/bbl, while Brent is down $0.46 at $68.41/bbl. Some of the downtick is being attributed to a stronger greenback, USD holding yesterday's gains. Competing forces of positive demand cues from the US and potential additional supply from Iran are expected to influence price action in the near term, markets look ahead to next week's OPEC+ meeting where the group will likely sign off on supply increases.

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