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Test on $50/bbl Looks Likely for WTI

COMMODITIES

WTI and Brent crude futures are notching up further gains pre-NY hours, with WTI hitting new multi-month highs of $48.59 as pervading USD weakness and generally firm risk sentiment globally continues to buoy oil. Similarly, industrial metals are in the green, with Copper futures returning to test the multi-decade highs printed in early December.

Gold is a touch firmer, but psychological resistance at $1900/oz remains in tact, with firmer equities globally providing a decent headwind.

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