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The major oil metrics meandered overnight,......>

OIL
OIL: The major oil metrics meandered overnight, sticking to a tight range,
supported by a large drop in Wednesday's headline DoE crude stocks.
- Saudi & Russian leaders are set to meet around the World Cup opening fixture,
with the OPEC+ nations set to meet next week.
- WTI bulls take comfort in the lack of follow through on dips below the 100-DMA
($64.58) with focus having returned to $67.23-68.52 where 21 & 55-DMAs are
noted. Bulls need a close above the 55-DMA to gain breathing room and above
$68.52 to shift focus to $70.86. Initial support is noted at $66.37 today with
bears needing a close below to gain breathing room.
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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