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WTI Hits New Intraday Low

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WTI is reversing much of Friday’s gains, haven fallen to a new intraday low during US hours.

  • Reduced concerns about supply and continued softer refinery demand are adding pressure.
  • The market is largely waiting for more clear direction after OPEC’s upcoming meeting in June, where a decision over potential output cut extensions may be made.
  • WTI JUN 24 down 1% at 79.22$/bbl
  • WTI-Brent down 0.01$/bbl at -4.44$/bbl
  • WTI JUN 24-JUL 24 down 0.01$/bbl at 0.47$/bbl
  • WTI JUL 24-AUG 24 down 0.09$/bbl at 0.37$/bbl
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WTI is reversing much of Friday’s gains, haven fallen to a new intraday low during US hours.

  • Reduced concerns about supply and continued softer refinery demand are adding pressure.
  • The market is largely waiting for more clear direction after OPEC’s upcoming meeting in June, where a decision over potential output cut extensions may be made.
  • WTI JUN 24 down 1% at 79.22$/bbl
  • WTI-Brent down 0.01$/bbl at -4.44$/bbl
  • WTI JUN 24-JUL 24 down 0.01$/bbl at 0.47$/bbl
  • WTI JUL 24-AUG 24 down 0.09$/bbl at 0.37$/bbl