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MARKET WATCH: NYMEX crude pushes past $70/bbl mark

Prices for both light, sweet crude and Brent crude were up Sept. 12 on renewed concerns of a consumption and production imbalance. In its September Short-Term Energy Outlook, the US Energy Information Administration forecasts Brent crude prices to average $74/bbl and West Texas Intermediate prices to average more than $67/bbl in 2019. Both forecasts are $3/bbl higher than those from the August STEO.

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