Crude Oil Remains Pressure, Movement Directed by Sentiment

Mounting fears about sovereign crisis in Greece and contagion to other European countries continue to hurt sentiment. While stabilized, the near-term outlook in the market remains weak and is prone to further selloff. Currently trading at 82.3, the front-month contract of WTI crude oil price plunged to as low as 81.29 earlier on the day. Gold changes little after rising against the tide yesterday.

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Crude Oil Remains Pressure, Movement Directed by Sentiment