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WTI crude oil rises to $80 despite slower China growth forecasts

WTI crude oil rises to $80 despite slower China growth forecasts

The oil market has impressively shrugged off two negative headlines in the past two trading days.

On Friday:

A report said the UAE was mulling leaving OPEC in order to pump more oil. It was quickly denied but with the UAE investing heavily in production, there's reason to believe it's not all fluff.

That initially sent oil $2 lower but it quickly rebounded and finished $1 higher on the day.

Today:

China forecast growth of 'around 5%' this year.

The bulls we... Read More

Posted: Mar 6 2023, 18:36
Author Name: forexlive
Views: 102256

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