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Crude Oil Price Lifted by Supply Constraints in Several Key Markets. Where to for WTI?
Crude oil has recovered at the start of this week as supply issues continue to cause concern for energy reserves going into the Northern hemisphere autumn. This is despite a broadly stronger US Dollar in the aftermath of the Federal Reserve meeting last week that pointed toward higher rates for longer than the market had previously anticipated. Last week, Saudi Arabia and OPEC+ appeared to place floor on the price of oil. Saudi Energy Minister Prince Abdulaziz bin Salman said that production could be cut if it was deemed necessary. Then, Organization of Petroleum Exporting Countries (OPEC+) Secretary General Haitham ... (full story)