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October WTI remained above the cutoff despite a sharp selloff, so an August 26 settlement above $80.49 is likely.
The October contract was still quoted at $82.62 on August 25, leaving room above the cutoff after a steep daily decline. Recent trading has generally remained higher, while constrained Middle East supply supports crude. However, improving Hormuz flows, ample inventories and softer demand expectations create meaningful risk that selling continues through the settlement window.
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