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WTI Above $70/bbl on Stronger China Sentiment Thursday

OIL

Oil is finding further strength with WTI breaking back above $70/bbl helped by earlier optimism from Chinese refining levels and a pause in Fed rates Wednesday.

  • An earlier headline from WSJ also boosted sentiment - *China Officials Consider Issuing $140 Billion of Special Bonds to Help Indebted Local Governments, Boost Infrastructure Spending, Sources Say –WSJ
  • Brent AUG 23 up 2.7% at 75.15$/bbl
  • WTI JUL 23 up 2.8% at 70.2$/bbl

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