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Trimming Some Of The Gains

OIL

WTI & Brent sit $0.50-0.60 below their respective settlement levels, with equities trading defensively post-FOMC/after U.S. President Trump drew some questions surrounding the prospects for the TikTok-Oracle deal.

  • This comes after an impressive rally for crude on Wednesday, which saw both benchmarks add over $1.50 come settlement time. Bullish crude inventory data alongside price-supportive refining developments in India and at BP facilities added further fuel to the fire.
  • Key OPEC+ ministers meet today, after source reports pointied to ~100% OPEC+ production pact compliance during the month of August.
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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