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Oil prices have failed to soar even after major crude producer Iran attacked Israel with drones and missiles, risking wider conflict in the crude-rich Middle East. Fallout from Iran's actions were to an extent priced in by markets as warnings had been given prior to the attack, although the scale of retaliation remains unclear. "The attack, announced well ...
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WTI oil futures tumbled by 2.8% to 82.84 on Wednesday, experiencing one of their biggest daily losses so far this year after a short-period of consolidation. The price slid below the key support of 84.14 and the 20-day exponential moving average (EMA), dissolving a descending triangle to the downside. This is usually a bearish chart pattern, indicating a ...