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WTI Crude Drops 2% as IEA Warns of Steep Demand Contraction

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The Story

News Summary

  • WTI crude slid over 2% after the IEA warned that high prices will trigger the largest drop in oil demand since the pandemic.
  • Meanwhile, US CPI data raised odds for a Federal Reserve rate hike, while a weaker dollar and lower yields supported gold and the yen.
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Stored market data

WTI price history

103.64 +71.76% over the displayed period

Advisor Snapshot

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