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Oil Markets Find Strength Brushing of Fed Rate Hike Fears

OIL

Crude markets have pushed to intraday highs brushing off earlier comments by US Fed Chair Jerome Powell that “it will be appropriate to raise interest rates somewhat further by the end of the year.”

  • Potential Fed rate rises and signs of weakness out of China have weighed on oil markets in recent weeks.
  • Brent AUG 23 up 1.1% at 76.74$/bbl
  • WTI AUG 23 up 1.4% at 72.19$/bbl

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