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Crude falls $1.32

Posted on: September 15, 2016

Despite a surprise draw in crude inventories, WTI continued to slide on Wednesday with the front future settling $1.32 lower at $43.58. Builds in distillate and gasoline stocks as well as an increase in imports as all the ships who were unable to make landfall last week due to Hermine delivered was the main source of downward pressure, assisted by USD strength. Without a change in fundamentals, we could grind around in the current range for a while.

This morning the curve has bounced a bit in early trading.


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