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Pressure on crude oil came from the desert

Discussion in 'Forex Trading Signals & Forecasts' started by Sandra S., Mar 30, 2016.

  1. Sandra S.

    Sandra S. Forum Member

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    Even a weak greenback couldn't hold the oil price yesterday and after Janet Yellen said that she would ‘take extreme care’ before tightening policy and that caution was ‘especially warranted’ the currency fell and Wall Street rallied sharply. Further downward pressure on crude oil came from the desert where the KSA and Kuwaiti’s agreed to restart production at the Khafji field in the neutral zone which will add around 300,000 b/d to already full world stocks. After the close the API stats

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