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CRUDE OUTLOOK: 27-02-2017

CRUDE OUTLOOK: 27-02-2017
February 26
17:41 2017

Crude is slightly week due to higher inventories in US, which rose for a seventh week.  The major oil producing countries and OPEC decided to go ahead with its oil output cut may not have much impact in the near term on concerns of restarting the closed oil well.  The immediate resistance for the commodity lies at $55, a decisive move above will give further strength to crude oil.  Crude has support at $52 and $51 per barrel.

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ALEX MATHEWS

ALEX MATHEWS

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