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wti crude oil

Oil prices are trading bullish on Thursday as investors brushed aside the build-up in gasoline inventories.

The gains come after prices fell sharply off the 41.00 handle earlier on Wednesday.

With price rebounding back to the 41.00 handle, we could see another attempt to breakout higher.

However, with not many developments fundamentally, oil prices might remain within the range.

So far, prices have been trading within the 41.00 and 38.83 levels since early October with an occasional drop off the range.

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