Crude oil shrugged off earlier losses and jumped as OPEC indicated willingness to talk to other producers on “fair price”. Sentiment was also buoyed by the DOE/EIA report which showed a -1% m/m drop in June output. The front-month WTI contract rallied +8.8% on Monday, accumulating a +25.3% gains in total over the past 3 trading days.
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Crude Extended Rally as OPEC Signaled Willingness to Discuss Price
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