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Crude Oil Prices Snap 5-Day Win Streak, Eye Inventory Data
Crude oil prices turned sharply lower, snapping a five-day winning streak. The move seems to have reflected easing concerns about escalation in Syria after US President Trump signaled a weekend rocket attack meant to punish the government for using chemical weapons was a one-off. Trump also backed away from sanctions aimed at penalizing Russia for its support of Syrian President Bashar al-Assad. Meanwhile, gold prices marked time as ebbing geopolitical risk translated into firming risk appetite, boosting Fed rate hike bets while simultaneously undercutting support for the US Dollar. The latter effect seemed to ... (full story)