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Crude continues recovery

Posted on: August 16, 2016

Crude continued its recovery off recent lows yesterday. The front contract traded up to well over the USD45 mark and is just under USD46 this morning. We continue to see good interest in differential hedging among local producers managing the discounted Alberta grades to WTI.

We will watch closely for API and EIA inventory numbers this afternoon and tomorrow morning to gauge market sensitivity to robust storage numbers.

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