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Steadies After Hitting Weekly Lows

OIL

Crude futures hovered around neutral levels in Asia after receding the previous day. WTI and Brent crude futures traded lower into the Tuesday close, pressing the oil complex to fresh weekly lows. Price action worked in favour of the WTI-Brent spread, which widened by around $0.50/bbl. USD strength was the primary catalyst behind lower commodities, exposing first support in WTI at $67.12/bbl and $70.42/bbl for Brent crude.

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