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WTI Adds to Recent Gains

COMMODITIES

Oil futures traded solidly Monday, with both WTI and Brent crude futures striking new multi-month and post-COVID crisis highs. Brent now looks increasingly comfortable north of $50/bbl, while a test on that level for WTI now looks increasingly likely. Firm stock sentiment and the higher prospects of stimulus in the US remain a key driver, with a bipartisan package seen being agreed upon ahead of the end of Friday.

Thanks to a weaker greenback, both spot gold and silver erased early underperformance to trade with decent gains into the close of well above 2.5% for silver, and 1% for the yellow metal.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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