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Crude Oil tests the low side on Friday, WTI drops below $72 per barrel
West Texas Intermediate (WTI) Crude Oil bids are shifting into the low side on Friday, testing into the red with an afternoon plunge into $70.65 before recovering to just below $72.00. Crude Oil markets continue to get knocked back and bullish momentum gets tangled up at familiar technical points. This week’s risk bid, sparked by a US Federal Reserve (Fed) admitting they’re likely looking at rate cuts next year, could only muscle WTI back into the week’s opening bids. Topside gains remain limited as global oil demand continues to decline faster than the Organization of the Petroleum Exporting Countries (OPEC) ... (full story)