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Crude falls as OPEC backpedals on production freeze

Posted on: April 04, 2016

WTI finished the week with a rough session, falling $1.55 to settle at $36.79. Saudi Arabia has thrown the gauntlet down for Iran, saying it will now only freeze production if Iran does also. If you have been following along, Iran has consistently told other countries where they can stick a production freeze. This did not please other participants, as the front future quickly found its way to a $36 handle.

This morning the curve is down slightly as North America returns to work.


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