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Back Fundamental analysis
No One is Giving Up on Oil Purchases – Everyone is Waiting for a Catalyst
Oil is slightly retreating after yesterday's
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Oil is slightly retreating after yesterday's 4.2% surge—the largest increase in about a month. Brent is trading around $94 per barrel, while WTI is near $91 per barrel. Yesterday's jump was triggered by the news that Tehran is suspending negotiations with Washington in protest against Israeli attacks in Lebanon. Trump then stated that the negotiations are proceeding "at a rapid pace"—and oil partially retraced its gains. This is a classic cycle that the market has been observing for several weeks.The
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Miroslaw Bawulski,
Analytical expert of InstaForex
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Maxim Magdalinin
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