Crude: Brent drops to fresh 11-year low as WTI slips below $35 ahead of stocks data

Discussion in 'Technical Analysis' started by FXStreet_Team, Jan 6, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    Oil remains on a slippery slope. Brent fell below $35 a barrel this morning to reach its lowest price level since July 2004. WTI also dropped below the $35 handle to trade near the lows it had hit in December of last year. The gap between the two contracts has virtually vanished in recent days. Previously, the supply glut was mainly confined to the US, and while the situation there hasn’t changed much the excess has also become apparent outside of the US over the past year or so. Afraid of

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