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Oil prices are lower again

Discussion in 'Forex Trading Signals & Forecasts' started by Sandra S., Jan 20, 2016.

  1. Sandra S.

    Sandra S. Forum Member

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    The reprieve for the oil price was indeed temporary and when the IEA report came out with its headline of the oil market ‘drowning in oversupply’ all bets were off. This morning prices are lower again with still no sign of anything positive on the horizon. The IEA did increase its non-Opec production fall to 600,000 b/d but that will be offset by an equally large Iranian supply by the mid year. Product markets are also weak in the USA and retail gasoline is another 8.2 cents down on the week

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