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WTI close to 3% down

OIL

Last two days corrective bounce was short lived for WTI, as cross assets favours FTQ, with Lockdown and vaccination pace coming back at the forefront.

  • Recovery pace is putting a dent in the commodity, after falling over 10% last Thursday, then correcting, recovering 6.45% last Friday-Monday.
  • WTI has now lost circa 3% since the European Govie opening bell.
  • WTI is seeing small dip buying, ahead of the target at $58.28 (last Thursday's low)
  • CAD, RUB and NOK have seen better selling, on USD and in turn the Oil move

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