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Oil is back above the April high. Watch the close

Oil will be an interesting spot to watch as it fights for a sixth straight week of gains. It's currently trading at $83.69, which is up 80 cents but more importantly is above the April high of $83.53. A close above that level The driver at the moment appears to be products. Gasoline and diesel inventories are tight, in part because of Russian sanctions. US gasoline futures rose 2.4% today and at the highs would be at the highest level since last October.Here is a great chart from HFI Research sh... Read More

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Posted: Aug 11 2023, 16:42

Author Name: forexlive

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