Oil prices made another new low for the current move or sell-off, but have rebounded back above $48 for WTI and $50 for Brent. There was a strange swoon around 2:00PM, yesterday, but prices quickly recovered. WTI seems to be getting some support from the strong refinery demand, with plants operating at nearly 94% of capacity. The high run rate is causing inventories of refined products to swell.
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