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Oil Markets Recovering Ground Ahead of EIA Data and Fed Announcement

OIL

Crude markets are recovering ahead of the weekly EIA report as well as the Fed’s interest rate decision.

  • Markets have held up from yesterday’s price boost after Novak announced Russia’s intent to cut crude supply by 500,000 bpd until the end of June.
  • Brent MAY 23 up 0.1% at 75.38$/bbl
  • WTI MAY 23 up 0.1% at 69.72$/bbl

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