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WTI Gradually Erasing Week's Gains

COMMODITIES

Both WTI and Brent crude futures traded lower Friday, opening a gap with the week's best levels at $43.06 for WTI. The naming of Hurricane Iota provided little support for the energy complex, the latest weather system contributing to 2020's storm season being the busiest in 15 years.

Precious metals and gold outperformed, with spot bullion higher by close to $15 /oz to near the 100- and 50-dmas at 1904.90 and 1906.53.

Meanwhile, industrial metals saw further support, prompting copper futures to record the best close of the week and near the multi-year highs at end-October.

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