Commodities traded within a narrow range but with a mildly positively tone. Unexpected decline in initial jobless claims in the US, together with better-than-expected confidence data, sustained the market. Intensified geopolitical tensions in oil producing countries also supported oil prices. The front-month contract for WTI crude oil climbed to as high as 100.05 before settling at 99.53, up +0.87%, while Brent crude contract closed largely flat at 107.89.
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Blast in Iraq and Strong US Data Support Oil
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