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Brent crude oil tied to $111/bbl peg on lack of directional momentum: Barclays

Posted on 14 January 2013

Crude oil markets have started the year on a positive note, drifting marginally higher with front month Brent stepping out of its recent$108-111/bbl range.
While the fiscal cliff agreement has cleared the macro cloud for now, there continues to be a lack of directional momentum for prices to move much further away from the $111/bbl mark, at least for now, with prices having retraced gains above $113/bbl by the end of the week………………………………………..Full Article: Source


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