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Crude Holds Strength After Chair Powell Speech


Crude is largely unchanged as the US dollar see a small decline in response to US Fed Chair Powell speech.

  • "Although inflation has moved down from its peak—a welcome development—it remains too high. We are prepared to raise rates further if appropriate, and intend to hold policy at a restrictive level until we are confident that inflation is moving sustainably down toward our objective."
    • Brent OCT 23 up 0.9% at 84.14$/bbl
    • WTI OCT 23 up 1% at 79.82$/bbl

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