06 Oct, 23

Oil Traders Should Be Weary Of A Bear Trap

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Market Tremors US benchmark West Texas Intermediate (WTI) crude oil and international benchmark Brent crude oil are on edge as a sudden decline in prices puts traders and investors on alert. Prices have taken a nosedive, falling around 2% on Thursday. This comes on the heels of a near 6% drop in the previous session, marking the most significant percentage loss in both Brent and WTI crude benchmarks since May. Brent futures settled at $84.07, a decline of 2.03%, while WTI came in at $82.31, down 2.3%. Demand Worries One of the leading culprits…

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