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The slide in oil prices noted here yesterday showed no sign of letting up into the wider US market close. The price of Brent crude for November delivery crumbled into the NYMEX settlement, where it later closed there, $3.18 lower, at $73.75. Earlier today the price fell further, reaching a low so far at $73.14. It has lifted off that low now, but not materially so at this stage. The slide in stocks was an integral reason for the slump yesterday and the low seen earlier today marks the lowest price seen this year. So, given the highs above $87 earlier this summer, it looks pretty cheap down here, but it could get cheaper still it seems, barring a major supply side shock and that should never be discounted. Brent for November delivery is currently trading at $73.44
The dollar is making further headway now this afternoon. The EUR/USD has just now hit a fresh session low at 1.0967 and the USD/JPY has just lifted to...
The US stock markets have not long reopened for live trading and the early moves have factored the Nasdaq 100 at the expense of the Dow Jones. The Dow...
Since the last update here earlier this morning there has been no further traction for the Oil markets. In fact the price of Brent crude for December...
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