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Crude Markets Dip on ECB 50BPS Announcement

OIL

Crude markets are dipping against the ECB announcement to raise rates by 50BPS.

  • Crude markets are reacting heavily to signs of weakness in the economy this week after SVB and Credit Suisse headlines
  • Brent MAY 23 down -1% at 72.98$/bbl
  • WTI APR 23 down -1.2% at 66.82$/bbl
  • *ECB SAYS INFLATION IS PROJECTED TO REMAIN TOO HIGH FOR TOO LONG - bbg

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