In European session, WTI crude oil retreats as investors take profits after last Friday’s rally of +3.07%. Currently trading at 78.1, price earlier surged to as high as 79.38 on speculations that tropical storm Alex would develop into hurricane and threaten production and oil spill cleaning at the Gulf of Mexico.
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Crude Retreats on Profit-taking, 80 Appears too High for Current Fundamentals
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