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Oil gains for the eighth consecutive day in highest close since November

Markets are generally closed today but oil traded electronically and it picked up from where it left off last week. WTI crude climbed for the eighth day in a row, rising 38-cents to $85.93. Market watchers have been impressed by drawdowns in visible inventories as well as low inventories of gasoline and diesel. Despite OPEC+ production cuts, US drilling rigs are also falling and that shows that production discipline is finally coming to fruition.In the short term, Russia teased last week that t... Read More

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Gains

Eighth

Consecutive

Highest

Close

Since

November

Forex

Posted: Sep 4 2023, 18:57

Author Name: forexlive

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