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The short-term outlook for oil has stabilised...>

OIL
OIL: The short-term outlook for oil has stabilised as yesterday's news-driven
selloff was recovered into the close and prices remain firm today. 
- Expectations for an increase in crude stocks and data showing a pickup in
production by OPEC saw Brent drop to $71.04 before finishing flat, with the
benchmark currently trading at $72.89. The bounce meant that prices failed to
close above the July 18 lows.
- WTI showed similar price action with the late-day recovery keeping uptrend
support from the Feb lows intact. That said, a break above their respective
55-DMAs is needed in both Brent and WTI to shift the outlook bullish. 

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