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The broader risk-on theme has the major crude...>

OIL
OIL: The broader risk-on theme has the major crude benchmarks trading back
towards their recent highs, albeit within relatively contained ranges ahead of
the return of U.S. participants.
- The continued rollback of active U.S. oil rigs, per the latest Baker Hughes
rig count data and apparent Russian efforts to comply with the global production
pact add oil-market specifics to the bullish cause, but signs of and the initial
steps towards a notable demand pickup will likely be needed to shunt crude
prices higher.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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