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Crude gain $0.79

Posted on: June 07, 2017

Today’s EIA figures are projected at a 750k draw according to Bloomberg. Kuwait’s oil minister said that Qatar is committed to the global cuts deal even after the break of alliance between Saudi Arabia which aided in taking back Monday’s loss. The contango between July/August contracts is narrowing which is bullish sign moving forward. WTI gains $0.79 to settle at $48.19 for the day.

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