WTI oil prices are reclaiming some of yesterday’s losses. There are reports that North Sea production has been affected, again, by an output decline, if not outright halt, in the Buzzard field, which is the largest contributor to the Forties blend. Yesterday, WTI prices fell on renewed hopes for a return of Libyan output to the global market, and the large increase in refined product inventories which was reported by the EIA in its weekly survey. Prices were also under pressure from a rise in the dollar index, which got strength from the Fed minutes.
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