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As Brent crude oil dips below $100/bbl - as low as $97.70 intraday - analysts and brokers say...

As Brent crude oil dips below $100/bbl - as low as $97.70 intraday - analysts and brokers say the price could fall up to another $25/bbl in the next few weeks if the sour sentiment in broader markets continues. The oil futures market is already oversold, but speculators actively withdrawing bets on higher prices are adding momentum to the fall, Saxo Bank's Ole Hansen says.
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Comments (2)
  • Bear Bait
    , contributor
    Comments (690) | Send Message
     
    ".....speculators actively withdrawing bets on higher prices are adding momentum to the fall". But speculation had nothing to do with the rise in oil prices but they have something to do with the decline. Yeah right. Now all that money is shorting Europe.
    1 Jun 2012, 12:27 PM Reply Like
  • Brian Bobbitt
    , contributor
    Comments (2037) | Send Message
     
    With all the shorts on the E$, I took mine out in some fancy profits. Now the question is, wait for a lil blip up in the E$ or find something else. The suggestion desk is now open.
    Capt. Brian
    The Lost Navigator
    1 Jun 2012, 04:51 PM Reply Like
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