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WTI crude oil extends gains to $3. Here’s why

ByAdam Button

Aug 31, 2015

WTI crude up more than 6% in third day of gains
There are two popular theories as to why crude oil prices turned around today. Here’s why they don’t add up.
1) Falling US oil production

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  1. Brainard says It Would be Prudent to Maintain fED s Balance Sheet at Current Level, Continue Reinvestments
  2. Saudi Aramco’s Falih says Oil Supply in U.s started Declining Significantly, Expect That to Continue in 2016
  3. AUD/USD hovers at 7-year lows
  4. USD/JPY and stocks moving in the opposite direction

By Adam Button

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