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Crude Markets Recovering After Yesterday's Sell-Off

OIL

Oil prices have edged higher on Wednesday after yesterday’s strong sell-off.

• The market is waiting on the EIA to announce crude inventories in the US at 10:30 EDT (15:30 BST) as well as U.S. June consumer prices data - economists expect to show that U.S. inflation has accelerated to 1.1% monthly and 8.8% annually.

• Biden's trip to Middle East is in focus this week as he asks for Gulf producers to increase production but the expectation for any impact from this is limited.

• Brent SEP 22 up 1.3% at 100.73$/bbl

• WTI AUG 22 up 1.2% at 97.07$/bbl

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