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Oil stages recovery, WTI up nearly 2%

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 22, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Córdoba) - Oil prices staged a nice recovery on Tuesday a day after WTI fell below $34.00 a barrel and Brent posted a fresh 11-year low.

    WTI crude for february delivery rose more than 2% to a high of $36.54 a barrel before easing to $36.40. Meanwhile Brent was hovering around $36.50 a barrel, having hit a decade low of $36.04 the precious day.

    Despite today’s bounce, both benchmarks remain near multi-year lows and lingering concerns of a global supply glut keep the upside limited.
    For more information, read our latest forex news.

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