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Crude Rises Back Above $80/bbl on US Market Open

OIL

Crude markets have ticked higher on the US market open pushing beyond the high created by the retracted Reuters headline Monday about Saudi cuts that caused a temporary price spike.

  • Brent SEP 23 up 1.3% at 80.69$/bbl
  • WTI AUG 23 up 1.4% at 76.78$/bbl
  • Brent prices rose to an intra-day high of $80.78/bbl, the highest level since 14 July.
  • The latest EIA US inventory data will be published 15:30BST today. Crude inventories are expected to have declined.

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