- See more at: http://blogtimenow.com/blogging/automatically-redirect-blogger-blog-another-blog-website/#sthash.CpFtWfic.dpuf Traders digest: U.S to release oil from SPR

Wednesday, 12 March 2014

U.S to release oil from SPR

This is old news in the market, saw it on my feed hours ago but I think its now getting into the wires given the drop we have seen in crude oil prices in the past few minutes. A close on 4hr charts below 98.10 would signal further push lower anything otherwise would be neutral to me. Had short but exited prematurely at 98.65 playing it cautiously. The spread between brent and crude continues to widen further today. I think it is because the increase in supply in the market only affects Crude as it is mainly produced in the US where the bulk of supply increase in the market  is expected to come from. Nothing much on Brent in the supply front.

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