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Crude oil prices are rising again.
Much to the relief of oil investors.
The rise has been reflected both by the West Texas Intermediate, the benchmark used for futures contracts set on New York, and Brent, the equivalent set daily in London.
As of close of trade Sept. 19 – which happened at 2:30 for oil – WTI was at $71.12 a barrel, the highest since July 10. Meanwhile, Brent closed slightly higher at $79.23.
I have previously addressed the main reasons for why the price is moving up here in Oil and Energy Investor, and for some time now, the supply side of the market balance has been tightening.
Thanks to this, there is something interesting stirring in the oil sector – something that manifested in a recommendation to my Energy Inner Circle premium subscribers just a couple days ago.