Oil continued to trade with great volatility, highly sensitive to macroeconomic events and derailing from fundamentals. Germany’s approval of the beefed-up EFSF with a large margin and the generally positive US dafaflow improved market sentiment and thus sent oil prices higher. The front-month contract for WTI crude fluctuated from 79.64 to 83.98 yesterday and finished the day at 82.14, up+1.15%. The equivalent Brent crude contract closed almost flat at 103.95.
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Oil Higher on EFSF Approval and Surprises from US Data
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