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Oil Market Gains on Reports of OPEC+ Unwinding Delay

OIL

Oil Markets are gaining after several headlines suggest that OPEC will delay its supply hike.

  • *OPEC+ IS CLOSE TO AGREEMENT ON DELAYING SUPPLY HIKE: DELEGATE – bbg
  • Previous releases from Reuters and Dow Jones sources suggesting the same have also been supporting markets, but the most recent headline has caused a spike in crude to push it into gains on the day.
  • Brent NOV 24 up 0.2% at 73.91$/bbl
  • WTI OCT 24 up 0.3% at 70.53$/bbl

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