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Oil prices remain under pressure this morning after settling 1.3% lower on Friday. Confusion over OPEC+ supply cuts appears to have put pressure on oil prices. There were reports over the weekend that Iraq’s oil minister said that the country would not agree to further supply cuts, and it is not clear whether this refers to a rollover of existing cuts or ...
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The price of Brent oil broke the key resistance level of 84.00 and started an uptrend. The asset’s price rebounded to the crossing point of these trendlines and formed a long black candle at the end of the trading week to make up for the prior pullback. The price of oil is likely to drop at the beginning of next week. So, let’s observe whether this scenario ...