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Crude down $0.82

Posted on: February 07, 2017

Prompt crude futures lost 82 cents and traded within a $1.22 range with a final settle price of $53.01. Not much action in the crude markets other than the CFTC disclosing an increase in speculative net long positions in WTI.

The important date to look out for is February 17th which will verify the compliance of OPEC and their production cut agreement since the beginning of January. The US dollar also gained some strength and brought down US denominated WTI futures.


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