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Crude falls $1.14

Posted on: May 03, 2016

WTI struggled to start the week, with the front future settling $1.14 lower at $44.78. Not much for macro news yesterday, other than Iraq announcing a small increase of production. Instead it felt like a consolidation day as participants took some profits off the table and producers continue to sell into the recent uptick in prices.

This morning the curve is slightly lower in early trading.

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