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Crude tumbles to start August

Posted on: August 02, 2016

WTI started August off with a whimper, sliding $1.54 lower to settle at $40.06. The front future even broke through $40, but managed to recover slightly to settle above it. Saudi Arabia and Iran have engaged in a price war to increase market share which should continue to put pressure on the curve unless we see additional supply disruptions.

This morning the curve is slightly higher in early trading.


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