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Crude falls $0.54

Posted on: January 31, 2017

Crude futures contracts didn’t experience much movement on the front today with a range of 70 cents and final settle of $52.63. The drop is largely a result of last week’s bearish US rig count increase of 15 to 566 and rise in US crude production now above 8.96 million barrels according to EIA.

The price of crude will remain volatile as we await definitive figures on the OPEC production agreement as of date.

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November 20, 2017

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