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“What goes up will eventually come back down” perfectly describes oil’s explosive movements since the start of 2020. After initially rallying on geopolitical tensions during the early parts of January, WTI Crude and Brent have both taken a painful beating over the past few weeks. Rising concerns over Asian economic growth and oil demand weakening from the coronavirus outbreak in China sent oil prices tumbling to levels not seen since November 2019 below $55 on Thursday. WTI Crude has depreciated more than 5% this week and almost 10% since the start of the year! The... Read More
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