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Oil Offered as OPEC+ Near Deal on Increased Output

COMMODITIES

Despite protests among some core OPEC+ members earlier in the week, reports this morning suggest the group are coming closer to an output deal and it could be secured by the end of the week. The shape of such a deal looks for a more gentle lifting of the output curbs over the course of several months, which, judging by the rally in the oil futures curve over the past few weeks Saudi Arabia and Russia could become more comfortable with. Meetings resume Thursday, with a deal still yet to be finalised.

Meanwhile precious metals are making slow progress, with spot gold adding around 0.5% to hit new weekly highs of $1843.58.

Energy BulletsCommodities
Energy BulletsCommodities

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