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Crude falls 71 cents

Posted on: July 19, 2016

Just like participants who attended the Stampede wrap-up featuring notable crude prognosticators Ice Cube and Flo Rida, crude had a bit of a rough Monday. WTI fell 71 cents to settle at $45.24 while Brent gave back 65 cents to settle at $46.96.

The supply picture continues to muddy, as storage is moving to the open water as terminals reach capacity. Gasoline and distillate supply remain fairly high, so this week's inventory numbers should have a large role in determining whether we make a run at $40.

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