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Oil Price Fundamental Daily Forecast - Lack of Details Over Trade Deal Progress Capping Prices

From fxempire.com

The current U.S.-China trade deal headlines could hold the crude oil market hostage for a few days until there is fresh news. The recent price action indicates traders are being reactive to the news, not proactive. Furthermore, given the lack of concrete details from Kudlow, Ross and the Chinese, crude traders are likely to be tentative. Some analysts are also being a little skeptical.U.S. West Texas Intermediate and international-benchmark Brent crude oil futures are trading mixed early Monday. The markets are likely being underpinned by the hopes of a U.S.-China trade deal and the possibility of deeper production ... (full story)

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  • Category: Fundamental Analysis