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Crude Oil Outlook: Oil Sets Fresh 7-Year High, $100 Now in Sight

From dailyfx.com

Oil prices have once again reached their highest level since 2014 after breaking above $90 per barrel. As supply constraints continue to support rising prices, increased tensions between the Ukraine and Russia will likely assist in the catalyzation of price action over both the short and medium-term move. After seven consecutive weeks of gains, investors are now querying the probability for oil prices to surpass the $100 mark, exacerbating concerns over rising inflation. Although geopolitical risks have supported the bullish move, fears over winter storms in Texas and potential shutdowns resulting from extreme cold ... (full story)

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  • Category: Technical Analysis