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Feb ' 23 Crude Oil Report

Crude looks stuck within a specific range and needs to give directional clarity on a break on either side of the range. Till then we might have to take cues for near term movement from other commodity-metals, energy-commodities and from fundamental economic scenario. OPEC+ meeting today is crucial to watch for any cues on policy review. The proposed price cap by the EU on Russian Petroleum products and its impact would be crucial to watch this week. Overall if all factors together can keep Brent ranged or push it towards a specific direction will drive the next course of movement for the oil.
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