| In the last 10 weeks Crude oil has added $12/barrel lifting prices as of this post to four month highs with August futures flirting with the $100/barrel level. Not that the fundamentals have mattered in the energy complex but Crude oil inventories are at the highest levels they’ve been in years.
For the last 10 months with the exception of a few sessions August Crude oil futures have been contained in an $11 trading range. Current trade has futures about $1 below that pivot point and $2 below the psychological $100/barrel mark...............................................Full Article: Source
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