Why did oil fall steeply? There are concerns on two counts. While economic data coming in from major economies are weak, the trade conflict between the world’s two largest economies, the US and China, continues to escalate. This is making demand outlook rather gloomy.
Speculative investors holding long positions on the exchanges have been steadily exiting the market as evidenced by fall in net long positions. In the current scenario, punters see no significant opportunity for an upside price movement anytime soon. Read More
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