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June WTI traded modestly higher in the US and Far East after the API numbers and putting in the day’s highs at $59.90 early in European action before setting into a slide throughout the London morning, down to $58.59 and meeting the main US session at $59.90. The pre stats period drifted down to $58.45 and then pushed higher as the data approached and meeting the numbers at $59.70. Good draws in crude and gasoline, mirroring the API data, saw an initial move to $59.89, but with equities struggling, the market moved back quickly below $59 and then chopped either side of the even dollar for an extended period as equities continued to weigh despite the decent data and sliding again to meet the last hour of the main session at $58.16. Returning to its normal volatility an initial dip to $57.92 held and a rally followed through to $58.62 then sliding again to make the day’s lows at $57.41 inside the last ten minutes before eventually settling at $58.02 in a slide of a day that ignored decent data and again chose to follow equities. |
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