Upbeat Consumer Confidence Lifted Sentiment, albeit Short-lived

High volatility continues to be seen in crude oil prices which have been fluctuating around the lowest levels since 2009. While stronger than expected US consumer confidence lifted crude prices, sending the front-month WTI contract +2.88% higher and the Brent contract +3.20% higher, weakness resumes in Asia today with both benchmark giving back more than -1% of previous gains.

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Upbeat Consumer Confidence Lifted Sentiment, albeit Short-lived