Crude Oil Prices Ended Flat as Driven by Divergent Forces

WTI crude oil had a volatile day as opposite forces were driving prices up and down. On the upside, initial jobless surprisingly fell more than consensus. On the downside, various media sources reported that Egyptian President Mubarak would announce his resignation in an address on national television. (However, it turned out that the President pledged to stay). Should the tensions eased, worries about contagion and oil supply disruption would dissipate.

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Crude Oil Prices Ended Flat as Driven by Divergent Forces