U.S. West Texas Intermediate crude oil futures are trading lower on Friday after breaking sharply from their intraday highs earlier in the session. Weighing on prices were concerns that a fresh surge in COVID-19 cases in Europe would threaten to slow the economic recovery. A jump in the U.S. Dollar also weighed on demand forecasts while a potential release of crude reserves by major economies raised concerns over too much supply.
Perhaps contributing to the early volatility is the expiration of the December WTI futures contract and the rollover…Slew Of Bearish News Sends Oil Prices Lower
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