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Crude oil gains $0.11

Posted on: September 25, 2017

WTI didn't have much momentum after the OPEC discussion held on Friday yielded nothing on production cut extensions—although this was the expected outcome. The Baker Hughes oil rig count decline added marginal support to crude falling by 5 to 744. As the Brent-WTI premium widens, US exports have also increased dramatically. "Crack Spreads" increases have prompted refiners to delay the maintenance season and pump out petroleum products. WTI settled at $50.66.

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