Oil prices were volatile as important economic data in large economies directed market sentiment. The front-month contract for WTI crude oil price climbed high to 100.7 in European session as growth in the 17-nation European exceeded expectations. Profit-taking then emerged and accelerated as US CPI soared more than the market feared. The benchmark contract slipped below 100 (intra-day low 98.64) again. Similarly, the equivalent Brent crude contract initially rose to 114.92 but then reversed gains after failing to recapture 115.
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Oil Fluctuates On Strong Eurozone Growth and US CPI
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