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Inside Investor

Oil Market Forecast & Review 5th April 2013

Oil Market Forecast & Review 5th April 2013

After posting a high last week at $97.80, May crude oil sold off sharply on the daily and weekly charts. The fundamental catalyst behind the move was an unexpected rise in weekly U.S. crude oil stocks.

According to the U.S. Energy Information Administration, crude oil stocks rose by 2.7 million barrels. This figure was nearly twice the expected level. The increase took inventories to 388.6…

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