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Crude falls $0.33

Posted on: July 21, 2017

Market participant's attention shifted to the OPEC producer compliance meeting next Monday—including non-OPEC member Russia and exempt production cap members Nigeria and Libya. Expect some price pumping headlines coming from this meeting and be prepared for increased volatility. Ecuador left the OPEC agreement earlier in the week and gave rise to a precarious precedent for future exits. OPEC's compliance for June was less than 100%. Overall, WTI prompt futures slid 33 cents to settle at $46.79 for the day.

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