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Commodities Briefing - Categorized | Market Moves, Oil more

Oil May draw support from OPEC cuts in grim Q4: Survey

Posted on 04 October 2011

Possible OPEC supply cuts, the delayed return of Libyan oil and peak winter heating fuel demand may provide pockets of support to benchmark crude oil prices during an otherwise grim final quarter plagued by global growth concerns, CNBC’s weekly survey showed.
U.S. crude futures broke below $80 last week and fell 17 percent in the third quarter marking the worst performance for U.S. crude since the height of the financial crisis in late 2008. In London, ICE Brent crude fell $9.72, or 8.64 percent for the third quarter, the biggest percentage loss since the second quarter of 2010……………………………………….Full Article: Source


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