Crude Rebounds after Sliding Below OPEC’s Preferred Range

Crude oil recovers after breaking below 70, the lower boundary of OPEC’s preferred price range. Current level of 71.8 is +2.8% higher that the new 3-month low, at 69.82, made earlier in Asian session. However, the rebound is mild when compared with the -17% selloff recorded since the beginning of the month.

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Crude Rebounds after Sliding Below OPEC’s Preferred Range