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MARKET WATCH: Brent crude oil up, NYMEX oil futures down
Oil & Gas Journal: Brent crude oil prices gained modestly on the London market Nov. 5 to settle above $73/bbl while light, sweet crude oil prices dropped slightly in New York to settle above $63/bbl. US crude futures have held in the $63/bbl range for three consecutive trading sessions.
“The market is well supplied, and we see a balanced, rather than tight market ahead,” said Morgan Stanley analysts in a research note. Morgan Stanley reduced its fourth-quarter Brent forecast to $77.50/bbl, down from its earlier forecast of $85/bbl.
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