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WTI Erases Friday Losses Pre-NY

COMMODITIES

The energy complex outperforms, with WTI and Brent crude futures higher by over 2% apiece, prompting a move above $45/bbl in early Monday trade. USD weakness is partially fuelling the strength, but buoyant Chinese industrial production numbers are also lending some support.

Today's WTI rally confirms that the pullback Friday was a correction, opening near-term resistance at the Nov11 high of $43.06.

Precious metals are more subdued, but still sit slightly higher. Gold continues to struggle on the approach into $1,900, with silver higher by around 0.7% at pixel time.

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