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US Oil inventories do not reflect oversupply – Commerzbank

Oil prices recovered slightly this week, primarily due to relief that the eight OPEC+ producer countries will 'only' increase their production by a further 137,000 barrels per day in November.

US gasoline inventories and distillate stocks remain lower than usual

"In addition, the hard figures still do not show any clear oversupply: US crude Oil stocks rose by 3.7 million barrels in the week ending October 3 compared to the previous week, which was more than expected. However, they remain lower than usual, at 4.7% below the five-year average."

"In addition, the US gasoline inventories and distillate stocks have fallen and remain lower than usual, even though the distillate inventory situation in the US had improved significantly in previous weeks."

USD/CHF eases to 0.8050 following dovish comments by Fed’s Daly

The US Dollar is posting moderate losses against the Swiss Franc on Friday.
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Silver rallies to fresh record highs – Commerzbank

Spot Silver rose for a second consecutive session to fresh record highs yesterday, amid soaring safe-haven asset demand and intensified supply shortages in the London bullion market, ING's commodity experts Ewa Manthey and Warren Patterson note.
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