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Oil price falls again as markets digest latest output data

We've seen a retreat for oil prices in the wake of rising output data 2 May

  • OPEC supply at 32.64m bpd in April vs 32.47m prev
  • Iran up to 3.04m bpd
  • Russia +7% to 3.117m bpd

Adam had the story on Friday here but the market seemed disinclined to react. A new day, week and month has traders and treasurers having another look.

Brent has been down to $46.65 from $47.50 late Friday while WTI has posted $45.43 from $45.96

USDCAD using the drop to nullify the general US$ sales to post 1.2560 from 1.2530 assisted by CADJPY selling too which is putting the brakes on drops below 1.2500

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


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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