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WTI US crude oil slips below $90, taking a breather after hawkish Fed
West Texas Intermediary (WTI) has rallied recently, closing in the green for ten of the past twelve consecutive trading weeks and notching in over a 30% gain on the period. Global crude oil supplies are facing down a continuous drawdown in reserve supplies after Saudi Arabia and Russia both announced that they would be extending their ongoing crude production cuts through the end of the year. Market analysts expect global crude supply chains to be facing a 2 million bpd deficit for the time being, until other crude production and shale pumping projects can get started in the US. The Federal Reserve (Fed) held their ... (full story)