Bearish Sentiment Keeps Traders From Going Long On Crude ...Middle East

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Bearish Sentiment Keeps Traders From Going Long On Crude
source : OILPRICE ( Middle East ) () 43
The June WTI crude oil futures contract witnessed fluctuations throughout the week, responding to various factors. Despite solid U.S. economic data that fueled a stronger dollar and raised expectations of an interest rate hike by the U.S. Federal Reserve in June, prices managed to climb approximately 2.68% for the week. This increase is significant considering that a stronger dollar can potentially dampen oil demand by increasing the cost of fuel for holders of other currencies. Supply Dynamics One of the significant factors impacting the market…

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