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Crude rebound, settle higher

Posted on: June 29, 2016

WTI recovered some of the losses of the previous two sessions on Tuesday, with the front future settling $1.52 higher at $47.85. Rumours of a production strike in Norway could take some significant supply offline in the short term.

After the settle APIs were announced with a draw of 3MM with a draw of 1MM at Cushing, we will see if the EIA confirms those numbers later this morning.

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