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USOIL News

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Last Updated Date: 31 May 2021 @ 8:41 AM (UTC)
*Please note that all the dates are in GMT time zone

Oil prices climbed in early Asian trade on Monday, underpinned by the bright outlook for fuel demand growth in the next quarter, while investors looked ahead to the OPEC+ meeting this week to see how producers will respond.

Once again the market rejects an attempt to turn the trend down into a sustained bear selloff. The rebounding action in recent days provides a short term bullish signal and call for rallies to attack 68.00 resistance. A close over 68.00 is bullish and targets a drive to 70.50. Only a close under 63.70 is bearish.

 
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