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Cryptos and Commodities: Oil softer, Gold little changed, Bitcoin’s danger zone

marketpulse.com
 2021-06-22

Cover picture for the articleBrent crude was ripe for some profit-taking after topping the $75 level. Energy traders used the reports that OPEC+ is already talking over how much to further ease production cuts. Oil prices have steadily risen on OPEC and allies’ gradual production increase plan that brought back 2.1 million bpd to the market from May to July. Oversupply fears are not back just yet, but the harsh reality that oil-producing countries will be eager to secure market share should put a damper on $100 oil price bets. OPEC+ is expected to meet on July 1st.

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