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Crude Oil News Update-17 June 2016

Discussion in 'Commodity vs Dollar' started by capitalstars05, Jun 17, 2016.

  1. capitalstars05

    capitalstars05 New Member

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    Brexit vote next week was suspended following the murder on Thursday of UK member of parliament Jo Cox, who was a vocal advocate for Britain to stay in the European Union.

    On Wednesday the Federal Reserve downgraded 2016 growth for the US and the Bank of Japan and the Bank of England followed along today.

    Lower growth signals lower demand for crude while supply continues to rise as global producers pump and pump and pump more.

    Leave the European Union in the coming weeks. This situation has raised investors’ concerns over the outlook of the European Union and their devalued currency.

    This separation could have a huge impact on the global economies, currency exchange rates and on the riskier assets like oil and other commodities.

    Crude oil futures are completely in doldrums with several bearish reports. The recession in Europe, separation of Britain, slow demand from China and potential oil supplies are likely to put more pressure on crude oil prices in the coming days.

    Canada, Libya and Nigeria are coming back to market.

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  2. raghav

    raghav New Member

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    Crude Oil (July Future) Sell below: 3364.00 Targets: 3336.73 Stop loss: 3378.52.
     
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