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WTI Within $0.50 of Multi-Month High

COMMODITIES

Both WTI and Brent crude futures trade well, narrowing the gap with Friday's multi-month highs to just $0.50. Commodities more generally are faring well as equities inch higher and the weaker USD backdrop buoys prices. Further upside factors include wire reports that Chinese imports of oil for refining purposes are picking up, while while Indian demand is also holding well.

In metals space, gold and silver are marginally lower in response to the firmer outlook for equity markets. This keeps gold's spot price pinned between the 200-dma to the downside at 1808.87 and the 50-dma seen higher at 1876.62.

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