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Crude gains $0.82

Posted on: November 08, 2016

Although there was no material information or progress concerning the OPEC agreement on Monday, Crude WTI Prompt Futures gained $0.82 closing at $44.89 amid a rally in the broader market arose after FBI Director James Comey re-affirmed that Hilary Clinton’s email server investigation had not lead to any criminal wrongdoing, which eased the market tension and strengthened the USD on the notion Clinton’s probability of becoming elected is higher.

Additionally, there were comments that Russia was “on board” with the supply deal during OPEC talks over the weekend, but this failed to move the mass market opinion awaiting more concrete figures/promises and was essentially treated as market noise.


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