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Crude Supported by Lower than Expected US PPI

OIL

Crude prices find a recovery following lower than expected PPI final demand at -0.2% vs. 0.1% MoM (2.2% YoY vs. 2.5% est), supported by weakness in the dollar and bolstered Fed cut wagers.

  • Brent AUG 24 down 0.3% at 82.35$/bbl
  • WTI JUL 24 down 0.4% at 78.17$/bbl
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Crude prices find a recovery following lower than expected PPI final demand at -0.2% vs. 0.1% MoM (2.2% YoY vs. 2.5% est), supported by weakness in the dollar and bolstered Fed cut wagers.

  • Brent AUG 24 down 0.3% at 82.35$/bbl
  • WTI JUL 24 down 0.4% at 78.17$/bbl