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Oil prices try to gain traction higher ahead of storage data

September 23, 2020


Oil futures attempted to gain ground Wednesday, with crude trying to find some support after data from an industry trade group showed a fall in fuel inventories. The moves for crude comes as Wall Street looks to extend a bounce, underlining appetite for assets viewed as risky, including commodities like oil.

West Texas Intermediate crude for November delivery CL.1, 0.28% CLX20, 0.28% had been trading higher, but was now off 10 cents, or 0.2%, at $39.72 a barrel on the New York Mercantile Exchange. The global benchmark, November Brent crude BRN.1, 0.43% was up 3 cents, or 0.1%, at $41.75 a barrel on ICE Futures Europe.

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