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Where next for daily oil prices ?

Crude oil futures continued to trade in a narrow range yesterday, with the October WTI contract closing the day marginally lower at $95.36 per barrel, having reached an intraday high of $96.03 during the oil trading session. Following the recent breakout from the sideways consolidation...

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Daily oil prices – WTI August contract

Daily oil prices today have traded in a tight trading range throughout the session with the August WTI futures contract only marginally higher at the time of writing at $84.44 per barrel, having opened the session at $84.14. Since breaking below the psychological $100 per...

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Oil Market Analysis 4 June 2012

The ongoing turmoil in the financial markets and the apparent synchronised slowdown across all the major economies have finally taking their toll on the price of oil which, at the time of writing, has fallen to $83 per barrel.  The next price point is, of...

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Daily Oil Prices 24 Jan 2011

Today’s weaker dollar and positive equity markets have done little for the WTI contract which at time of writing is trading at $87.80 per barrel, having fallen from a high of almost $90 per barrel.  Crude oil remains soft on fears that China, which the...

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Daily Oil Prices 5 Jan 2011

Daily oil prices have today rebound back above the $90 per barrel price handle following better than expected crude oil inventories which confirmed a draw of -4.2m barrels against a forecast of -1.4m barrels.  This data also followed much better than expected employment data in...

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Daily Oil Prices – 17 Dec 2010

Following two weeks of sideways consolidation with today’s candle on the oil chart adding to the recent pattern, the only question that remains is whether the explosive break out for oil prices to the upside occurs before the end of the year or in 2011...

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Daily Oil Prices 14 Dec 2010

Despite last week’s drift sideways daily oil prices continue to remain firmly bullish with the 9 day moving average in particular providing solid support to any short term pullback.  Indeed this was a feature of Friday’s price action with the WTI crude oil contract closing...

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