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Oil Steady as Ever Given Partially Refloated

COMMODITIES
  • Oil prices are broadly flat, but came under some early pressure on news that engineers had 'partially' refloated in the Suez Canal - although the ship is still blocking traffic. WTI trades either side of $60.50/bbl, keeping first resistance in tact at last week's $61.36/bbl.
  • Silver and gold are a touch lower, with silver prices off just over 1% as markets look to test the 200-dma at $24.7656. Silver fell below the support last week on an intraday basis but recovered ahead of the close. A close below this mark would be a bearish signal, opening a deeper move toward the 2021 low of $24.0570.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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