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Crude drops as rally runs out of fuel

Discussion in 'Technical Analysis' started by FXStreet_Team, Mar 15, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    Oil prices have retreated sharply at the start of this week, with Brent dipping back towards $38 and WTI to $36 a barrel, thus giving back a good chunk of their recent gains. Recently, sentiment on the oil market had turned positive on realisation that the significantly lower oil prices had boosted demand, most notably in China, and as large OPEC members decided to talk with Russia about curbing crude output at January levels. Talks have been on-going for several weeks now and so far there has

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