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Market Chatter: WTI Crude Rebounds From 10-Week Low; Brent Pipeline Shut

"Oil rebounded from the lowest level in 10 weeks as traders speculated recent declines may have been excessive, while a North Sea pipeline system remained shut after a platform leak," Bloomberg reported.

It reported: "West Texas Intermediate advanced as much as 0.6%, and Brent futures as much as 0.9%. The Brent pipeline system was closed for a fourth day after an oil leak was discovered March 2 on the Cormorant Alpha platform, according to Abu Dhabi National Energy Co. (TAQA) PJSC, the operator known as Taqa. U.S. crude stockpiles probably increased for a seventh week, the longest stretch since May, a Bloomberg News survey showed before Energy Department data tomorrow."

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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