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Oil Retreats below $65 as DXY keeps climbing

oil price drops

Oil retreated for a third day to trade below $65 a barrel, with a firmer dollar capping prices. West Texas Intermediate fell 1.5%, while Brent also dropped. On Monday, WTI’s nearest timespread slipped into a bearish contango structure, signaling a short-term oversupply, though the rest of the curve remains in …

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Oil Price Consolidates, While Gold Rebounds

Having retraced nearly 50% of last week’s rally, oil markets rose modestly overnight, as both Brent and WTI consolidate recent gains. The official US crude inventory data show massive swings in inventories, gasoline and distillate volumes, but clearly impacted by the Texas deep freeze, gave no clear directional signal to the markets. Brent crude …

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