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Move Lower Extends Post-NFPs

OIL

Our commodities team notes that headwinds for crude oil futures persist, as Brent & WTI extend on the down leg seen Thursday in the wake of the latest U.S. NFP releases owing to the USD bid & Fed repricing.

  • Yesterday’s late weakness came on headlines that promoted optimism re: a ceasefire between Israel and Hamas, which were later withdrawn.
  • Jan 17 lows present the next levels of interest to the downside for both WTI & Brent.
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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