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Oil Again Sets Market Sentiment as Kuwait Workers’ Strike Ends
If the oil price continues to be a positive correlation for risk appetite then traders could be in for a corrective day today. The oil price did not fall so hard on Monday in the wake of the Doha meeting disappointment because of the oil strike in Kuwait. Taking out around 1.8m barrels of oil from daily production gave prices a boost, however the oil strike has now come to an end. The oil price has subsequently started to fall again and once again the direction of the oil price is driving sentiment as markets react accordingly. Equities on Wall Street came off their highs (S&P 500 closed up 0.3%), Treasury yields have ... (full story)
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