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Crude Oil Corrects Lower on Inventory Build

Discussion in 'Technical Analysis' started by FXStreet_Team, Nov 27, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    Crude oil remained in rout for the second straight day on the basis of the current inventory build within crude storage facilities. Subsequently, WTI CLF6 futures fell strongly and are currently trading around the $42.50/b level. The impetus for the big move was a report by the U.S. Energy Information Administration announcing that crude oil inventory figures rose by 0.90 million barrels. Forecasts had the initial draw at 1.1 million barrels but the result still remained largely negative for

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