The recovery in crude oil prices appeared to be short-lived with benchmark contracts paring gains made earlier today. The situation in the Eurozone remained in focus. While the G7 meeting has lifted sentiment, the delight would be short-lived as we do not anticipate anything concrete would come out after the discussion. Meanwhile, indicators in the 17-nation region have evidence economic weakness, intensifying concerns over the region.
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Weak EZ Economic Data Damped Sentiment
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