| Talk about a dead-cat bounce. Brent oil closed 3% lower on Tuesday, erasing early gains spurred on by a deal between Russia and OPEC-heavy Saudi Arabia to freeze oil production at January levels. WTI crude is still below $30 and looks to settle below Monday’s close by about a nickle.
The only market to benefit so far were Russian equities. But that is unlikely to last 24 hours. Barclays Capital warned early this morning that the Russia-OPEC deal might ultimately disappoint, saying it had “several shortcomings”...............................................Full Article: Source
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