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NRGZ - Saudi Arabia Continues To Look To Shed Its Long Position In Crude Oil
Bank of Montreal ZC SP ETN REDEEM 25/03/2039 USD 50 - Ser E Sr MedTrm Nt
The price of crude oil fell to the $50 per barrel level on the nearby NYMEX September futures contract last week. The price of Brent October futures moved below the $60 level to around $55 per barrel at the lows.
As the oil ministers of OPEC prepared to meet in early July, many of the members of the cartel that establish production policy twice each year had said that a price for Brent between the $60 and $70 per barrel was the sweet spot and desired range for the energy commodity. At the same time,