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WTI Extends Gains to 6% Over Monday Lows

COMMODITIES
  • The energy complex trades well early Thursday, with a number of the week's bullish factors continuing to support prices.
  • Yesterday's DoE inventories numbers continue to show solid demand for oil products, with the distillates component showing a far larger draw on supplies than expected. Additionally, yesterday's Fed decision continues to underpin expectations of a solid rebound in economic activity throughout the second half of 2021.
  • In metals space, industrials continue to trade well, with copper futures touching new cycle (and decade) highs while precious metals are more subdued. Gold is a touch lower having edged off the overnight highs of $1790.04.
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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