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Oil Prices Narrowly Positive in Choppy Session

OIL

Crude has faced a choppy session as the markets price in recessionary pressures against signs of reduced output from Russia and difficulties getting Kurdish oil to the market.

  • Prices surged over $3 Monday after Iraq was forced to halt exports of around 450,000 bpd from its northern Kurdistan region through Turkey, following an arbitration decision that confirmed Baghdad's consent was needed to ship the oil.
  • Brent MAY 23 up 0% at 78.15$/bbl
  • WTI MAY 23 up 0.1% at 72.9$/bbl

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