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Wall Street drops to one-month low on trade, growth fears
Author: GarryMccurry
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Weekly Fundamentals – Oil Rallied on Hopes of Tighter Fundamentals, USD also Lent Support
Energy prices outperformed last week as huge decline in US crude inventory raised hopes of tighter supply/demand balance. The front-month WTI crude oil contract resumed the recent rally, after sliding over the past 2 weeks, and gained +3.24% on weekly basis. The Brent crude contract also rose +2.52% last week with price breached above US$50/bbl at some points.
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Weekly Fundamentals – Oil Rallied on Hopes of Tighter Fundamentals, USD also Lent Support