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Crude Tight After Thursday's Swings

OIL

WTI & Brent sit ~$0.20 above their respective settlement levels at typing.

  • This comes after worry surrounding the longevity of the U.S. economic rebound weighed on crude Thursday, although the benchmarks staged a sharp rebound from worst levels.
  • Worth flagging that China's apparent demand for oil products fell by 6% in Y/Y terms during H120, although that was largely discounted, given the impact of COVID-19.
  • Elsewhere, crude-specific news flow remains light.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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