The WTI front-month contract closed up 23 cents Tuesday at $54.38/bbl, reaching its highest point since February. Brent hit a one-year high at $61.37/bbl. Prices were bolstered when the EIA reported US August production was down at 9.203 MMbo/d vs. 9.234 MMbo/d in July. The adjusted numbers came in below what the EIA had estimated in its weekly numbers. As of Oct. 20, US output is estimated at 9.5 MMbo/d. Traders are also positioning......
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