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Oil traded at the mercy of broader risk.........>

OIL
OIL: Oil traded at the mercy of broader risk sentiment, moving lower, but
operating off of session lows, after crude was dented by Trump's latest tariff
proposals. WTI last trades $0.30 or so lower at $63.20, with Brent losing a
similar amount, last at $68.00.
- Traders eye the weekly Baker Hughes rig count release on Friday, following
last weeks fall in active US rigs.
- From a technical perspective WTI bears now look for a close below hourly
resistance from April 04 ($62.69) to confirm breaks of 21 & 55-DMAs and shift
focus to $59.91-60.84 where the 100-DMA and a bull channel base are noted.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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