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Crude Markets Pull Back on Possible Further OPEC Meeting Delay

OIL

Crude falls back from earlier gains on headlines from Reuters that a further delay in the OPEC meeting planned for Thursday is possible.

  • The headline said OPEC+ talks on oil policy are difficult, making a further delay or a rollover possible according to four OPEC+ sources.
  • Front month Brent is back negative on the day having earlier reach a high of just over 81$/bbl.
    • Brent JAN 24 up 0.1% at 80.05$/bbl
    • WTI JAN 24 up 0.1% at 74.91$/bbl
    • Brent JAN 24-FEB 24 down -0.01$/bbl at 0.1$/bbl
    • Brent JUN 24-DEC 24 unchanged at 1.72$/bbl
    • WTI JAN 24-FEB 24 up 0.03$/bbl at -0.2$/bbl
    • WTI JUN 24-DEC 24 up 0.04$/bbl at 1.94$/bbl

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