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Oil Boosted By Further Kazakhstan Unrest

COMMODITIES
  • Crude oil prices have been boosted today by growing unrest in Kazakhstan impacting production and Saudi Aramco also signalling smaller than expected price cuts for February supplies early on.
  • WTI is +2.5% at $79.8 with rises again heavily concentrated in early contracts. It has cleared two resistance levels with next eyed at $81.73 (Nov 10 high) and then $82.13, the Oct 25 high and major resistance.
  • Brent is +1.8% at $82.2., through one resistance level and next eyeing $83.11 (Nov 10 high).
  • Gold has slipped -1.2% at $1789.2, through the first support and eyeing $1781.5, the channel base drawn from the Aug 9 low, a key short-term directional trigger.

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