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Crude Markets Continue Decline

OIL

Crude Markets have been dropping further during US hours, as some of the additional geopolitical risk premium continues to fall. Prices spiked yesterday on Netanyahu’s comments on an invasion of Gaza, while raids into the enclave took place overnight.

  • Focus also remains on an uncertain demand picture. Crude has retreated back after a partial rebound following some more optimistic US economic data reported earlier in the day.
  • WTI DEC 23 down -2.5% at 83.22$/bbl
  • WTI-Brent down -0.03$/bbl at -4.78$/bbl
  • WTI DEC 23-JAN 24 unchanged at 0.7$/bbl
  • WTI JAN 24-FEB 24 down -0.09$/bbl at 0.74$/bbl
  • WTI DEC 23-DEC 24 down -0.81$/bbl at 6.38$/bbl

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