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Crude gains $1.40

Posted on: April 27, 2016

WTI rebounded in dramatic fashion on Tuesday, with the front future gaining $1.40 to settle at $44.04. Producers are hoping to take advantage of increases in refinery demand which is needed to chew through some of the excess supply. After the settle yesterday APIs came out with a draw of 1.1MM compared to expectations of a build a around 1MM.

This morning the buying continues, with the June future trading over $45, a 2016 high, at the time of writing.


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