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QP - Oil drops again as reopenings stall; gas hits 25-year low - June 29, 2020
The WTI front-month contract settled higher than $40 last Monday for the first time since March 6 and held above that threshold on Tuesday as well, buoyed by signs of tightening oil supply and continued reopening of economies. However, events later in the week swept both of those legs out from under the oil market, bringing prices down $1.26 on the week to a Friday settlement of $38.49. The EIA last Wednesday reported a......
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