Front month high #intraday volatility of #brent #oil approaching 2$/bbl in levels

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November 1, 2014 · 11:09 am

One response to “Front month high #intraday volatility of #brent #oil approaching 2$/bbl in levels

  1. Reuters reports on 4th Nov. Issue of Inside oil:
    • Oil tumbles anew as Saudi cuts U.S. prices, hikes others 
    Nov 3 (Reuters) – Oil tumbled by as much as $2 a barrel in the final minutes of regular trade on Monday, hitting new lows in New York as Saudi Arabia deepened price cuts for U.S. customers even though it hiked prices for the rest of the world.
    “The market continues to hunt for a bottom. There is more than ample supply, no producers seem willing to cut back, there are fears Europe could fall into recession and China’s growth is continuing to slow,” said Gene McMillian, senior analyst at tradition Energy in Stamford, Connecticut.

     

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