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Russian President Vladimir Putin's visit to Beijing this week highlights the strength of Russian-Chinese relations, based around a shared suspicion of the West, as well as booming Chinese imports of Russian oil and gas. Although their friendship appears unbreakable, tensions are bubbling below the surface that could impact the alliance in the coming months. ...
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Despite occasional drops, WTI oil futures remained squeezed within the 78.00-80.00 area and between two ascending lines for the second consecutive week. The bulls have been held back around 79.68 by the 38.2% Fibonacci retracement of the December-April uptrend, while the 200-day exponential moving average (EMA) has been restrictive too. Thus, in spite of ...