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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 29 May 2012

Following the recent sharp sell off in oil  which has seen the WTI contract fall from a high of $110 per barrel to $91 per barrel at time of writing, it will be interesting to see whether OPEC, and in particular Saudi Arabia, are willing...

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Daily Oil Prices 24 Mar 2011

Having finally broken out of its long sideways consolidation the question now is just how far daily oil prices are likely to rise if and when they manage to break through the March 7th top at 106.  One of the most straightforward methods would be...

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Daily Oil Prices 28 Feb 2011

Although the recent tensions in the Middle East and Libya have been cited as reasons for the surge in oil prices, from a technical perspective I have been long the commodity for many months – in fact I was fully expecting oil to breach $100...

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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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