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Crude gains $0.57

Posted on: October 04, 2016

The OPEC agreement to cut output continues to fuel the prompt futures WTI to a three month New York high, rising $0.57 to $48.81, albeit on shaky fundamentals and expectations. Bloomberg has reported on an increasing number of oil companies hedging their price risk in the coming year following the oil rally after the announcement. There are some impressions that this may be a signal for increased US production.

Crude is up in early morning trading.

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November 20, 2017

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