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Crude oil jumps above $64, marking one year of crash below zero

West Texas Intermediate advanced 1.3 per cent, adding to Monday's modest climb as the dollar weakened, while production in Libya fell below 1 million barrels a day amid a budget dispute

crude oil, OPEC, prices, production, oil and gas
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Oil’s forward curve also suggests growing confidence — particularly as US demand recovers — with the spread between WTI’s contracts for December this year and 2022 at the widest backwardation in about a month

Bloomberg
Oil jumped above $64 a barrel, a year to the day after futures for the US benchmark collapsed below zero, with the world’s most important commodity extending a powerful rally on bets for better demand.

West Texas Intermediate advanced 1.3 per cent, adding to Monday’s modest climb as the dollar weakened, while production in Libya fell below 1 million barrels a day amid a budget dispute.

Oil’s forward curve also suggests growing confidence — particularly as US demand recovers — with the spread between WTI’s contracts for December this year and 2022 at the widest backwardation in about a month. Yet there

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