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Oil Remains Volatile Inside a Range

COMMODITIES
  • WTI and Brent crude futures both trade higher, posting gains of around 2.5% apiece, as benchmark oil contracts remain volatile inside the recent range. Friday's highs for both contracts remain out of reach for now at $69.22/bbl for WTI and $72.61/bbl for Brent.
  • Markets are taking the lead from the setting of Saudi Arabian OSPs for crude headed to Asia and the US, which have been boosted to levels not seen since the turn of 2000 for the sour, high sulphur content grades.
  • Gold remains above last week's lows. Short-term conditions though remain bearish, having recently pulled back from $1877.2, the Nov 16 high. Price has breached both the 20- and the 50-day EMAs and attention remains on the base of a bull channel at $1762.1.
Energy BulletsCommodities
Energy BulletsCommodities

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