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Crude Markets Find Further Upside Traction

OIL

Crude markets are finding more upward traction after failing to make much ground early in the session.

  • After a sell off last week on tightening central bank policy and strong US stockpiles, crude is finding upward momentum on sustained optimism around China’s re-opening.
  • The markets are also weighing up the impact of Russian production cuts against signs that global markets are already well supplied.
  • Brent APR 23 up 1.4% at 84.19$/bbl
  • WTI MAR 23 up 1.4% at 77.39$/bbl

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