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Oil - Weekly Recap 17-21 October

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by , 10-23-2011 at 07:08 AM (596 Views)
The oil market demonstrated a mixed trend as WTI slightly inclined while Brent slipped. The Libyan news of Qaddafi's demise may have helped lower the Brent oil prices as this news may have slightly helped ease the uncertainty in the European crude oil market. On the other hand, the rise in the Philly Fed Manufacturing Index and the U.S. housing starts may have helped push up the WTI.

By the end of the week, Brent shed 1.9% off its value while WTI inclined by 0.97%; as a result, the spread between Brent and WTI sharply fell to $23.56/b on Friday.
For the complete analysis on oil prices weekly recap see here in Trading NRG
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