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Crude Oil Prices Hold Lofty Levels as US Dollar Softens on Rising Inflation and Yields. Where to for WTI?

October 27, 2021

Via: DailyFX

Crude oil is holding the high ground for now after an industry report showed US stockpiles dwindling. S&P 500 made another record high in the US session, but equities were softer in Asia today. Increasing US/China geopolitical tensions and rising yields after higher than expected core Australian CPI data undermined stocks.

Crude oil was steady today after a report from the industry funded American Petroleum Institute showed a significant decline in stockpiles at the Cushing, Oklahoma storage hub.

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