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WTI surges 4% Monday on trade war halt & likely output cuts
On Monday, Dec. 3, positive events over the weekend sent crude prices up $2.02 to $52.95/bbl. First, trade tensions between the US and China relaxed as the US said it would not impose tariffs on $200 billion in Chinese goods. Instead, the two parties agreed to further talks and will delay additional tariffs during the negotiation period. Second, Putin said Saturday night that his country and Saudi Arabia had agreed to extend their tandem reduction of oil volumes into......
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