Brent fell about 1.4%, pressured by the higher dollar and the Quarter’s DVAH level.
There are some signs of more supply entering the market as US production slowly recovers from the damages from Hurrican Ida while part of the US Gulf of Mexico crude production still remained offline.
The previous week’s data from EIA and API showed a declined in inventories which boosted the oil prices higher. Meanwhile, in China, several venues were closed due to an outbreak in a city in southeast China, according to reports.
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