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Crude drifts lower despite Fed comments

Posted on: March 30, 2016

WTI struggled on Tuesday, with the May future giving back over a dollar to settle at $38.28. The selling started early, as all seems to have grown quiet on the OPEC/Production Freeze front and many participants are suggesting we could be on our way back down to $30. There was a brief respite when Yellen hit the tapes, suggesting a more moderate timetable for rate increases in the US.

This morning the curve has rebounded in early trading, regaining a $39 handle at the time of writing.

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