Brent crude oil closed yesterday at $113.82/brl, one dollar above opening price. The move was attributed to a weakening dollar. Though the change of dollar against euro was relatively insignificant, it influenced oil prices considerably because the oil market remained rather thin and traded volumes were low. Key factor to watch is the US inventory data, which will be published later today. A bearish set of numbers would be able to move crude down below yesterdays trading range. The following...
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