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Crude Oil - Inside Retracement Zone; Strengthens Over $57.36, Weakens Under $56.08
U.S. West Texas Intermediate crude oil futures are trading lower early Wednesday as concerns over the lack of progress in the trade talks between the United States and China have dampened the optimism that has been fueling the rally since October 31. A forecast by the International Energy Agency (EIA), calling for slower global oil demand growth post-2025, also weighed on prices. Later today, traders will get the opportunity to react to the latest weekly supply data from the American Petroleum Institute (API). At 05:09 GMT, January WTI crude oil is trading $56.70, down $0.15 or -0.26%. The main trend is up according ... (full story)