Thursday’s, trading in WTI futures was crazy, even by the standards of oil’s somewhat volatile nature. One of the things that makes oil attractive to traders is that while there is that short-term volatility, it usually comes within a discernible long-term trend that is based on fundamental conditions.
Thursday’s trading, however, reflected conflicting fundamental conditions and we saw the kind of price action that frequently marks a shift in long-term direction. That, and the common view amongst analysts that oil goes higher…Why Oil Prices Could Continue To Fall
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