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It was another painful day for Oil as concerns intensified over the coronavirus outbreak sapping demand for fuel. WTI Crude and Brent both tumbled over 4.5% as investors became increasingly jittery over the widening crises and negative consequences to global growth. On Wednesday, for the first time ever, the number of new cases of COVID-19 outside China exceeded the number of new Chinese cases – ultimately fuelling fears of a pandemic. Oil prices are expected to remain severely depressed on demand and global growth concerns.   The technical picture paints a... Read More

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