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Crude Oil rebounds on Thursday, WTI climbs back into technical congestion near $77.50
West Texas Intermediate (WTI) Crude Oil rebounded on Thursday, catching an upshot into $77.50 per barrel and slamming back into a technical congestion zone on the charts as energy market bid Crude Oil back up after a midweek pullback. Crude Oil supply lines saw an unexpected uptick in barrel counts this week, warning barrel traders that global supply continues to climb at a much faster pace than energy markets initially expected. According to the International Energy Agency (IEA), global Crude Oil demand is going to settle into a much lower range than previously expected, with the IEA lowering its 2024 growth ... (full story)