Oil Stumbles as Putin Clouds Outlook for More Production Curbs - Bloomberg:
Brent for June settlement fell 49 cents to $70.61 a barrel on the London-based ICE Futures Europe exchange at the close of trading. The global benchmark crude was at a premium of $6.65 to WTI for the same month.
WTI for May delivery traded at $64.14 a barrel at 4:40 p.m. after settling at $63.98 a barrel on the New York Mercantile Exchange, a day after posting its highest close since Oct. 31. The grade’s 14-day relative strength index rose as high as 77 on Tuesday, above the 70 level that signals it’s overbought.
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