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Commodities Briefing - Categorized | Oil, Price Watch more

Where is the price of oil headed?

Posted on 18 October 2012

The price of oil has experienced high volatility in the past couple of weeks. But despite this high volatility the price of oil remained close to its starting point from the beginning of month. Will this high volatility in the oil market continue? Further, will oil prices resume their downward trend?
During October, the price of oil fell by 0.4%; United States Oil mirrored this decline with a 0.4% drop of its own. The tensions in the Middle East may have contributed to the high volatility in the oil market, but the stable OPEC oil production, the decline in the IEA projection for global demand in 2012, and the rise in U.S oil production and refineries input curbed the rally of the price of oil………………………………………..Full Article: Source


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VRS - who has written 39433 posts on Opalesque Commodities Briefing.


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