Brent Oil: Break below September low of $84.06 would be a bearish signal – MUFG Oil Brent TradeBalance Banks
dropped 3.4% on Wednesday. A break under the September low of $84.06 would intensify downside pressure, strategists at MUFG Bank report.“Weak growth is a possible factor but in addition, the speculation of a Saudi-led push for a production increase could still be weighing on crude oil prices.”
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