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Oil price back to square one on strong USD

Discussion in 'Forex Trading Signals & Forecasts' started by Sandra S., Nov 6, 2015.

  1. Sandra S.

    Sandra S. Forum Member

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    It was back to square one for the oil price as higher crude oil stocks and a strong dollar put the kibosh on any sustained recovery. The EIA reported a build of 2.8m barrels of crude although product stocks drew quite sharply. With the Fed seeming to point to a stronger economy the dollar was strong, particularly against the Euro, hindering any kind of rally.

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