WTI stalls upside below $72 amid IEA’s warning

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In its latest oil market report published on Wednesday, the International Energy Agency (IEA) said that “current market pessimism stands in stark contrast to the tighter market balances for H2.”

WTI is unable to extend its recovery momentum after the warning issued in IEA’s oil market outlook. The US oil is trading at around $71.50, easing from session highs of $71.62, still up 0.29% on the day.

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