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Oil Recovers Earlier Losses On Weaker USD

OIL

Brent crude recovers earlier losses to flat on the day due to a weaker US dollar.

  • Confirmation that China will not be relaxing the covid policy had pushed prices lower but ongoing tight supplies, Russia supply concerns and OPEC cuts are also supporting prices.
    • Brent JAN 23 unchanged at 98.57$/bbl
    • WTI DEC 22 down -0.1% at 92.54$/bbl
    • WTI-Brent up 0.11$/bbl at -7.16$/bbl
    • Brent JAN 23-FEB 23 down -0.07$/bbl at 1.6$/bbl
    • Brent FEB 23-MAR 23 unchanged at 1.57$/bbl
    • Brent JUN 23-DEC 23 up 0.06$/bbl at 4.86$/bbl
    • Brent DEC 23-DEC 24 down -0.04$/bbl at 6.27$/bbl

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