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Crude settles above $40

Posted on: March 18, 2016

The momentum in oil markets continued on Thursday, as WTI gained another $1.74 to settle at $40.20 while Brent gained $1.21 to settle at $41.54. The FOMC minutes indicated the Fed is now pricing in 2 rate hikes in 2016 compared to the original 4, which spurred a rally. The strength of the rally will depend on the resolve of producers to actually cut production, which seems to be working so far.

Producers continue to look at putting hedges on with the recent uptick. This morning the curve has caught a bid early as the buying continues into the weekend.


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