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Breaking: WTI dips briefly below $28 on Saudi price war, sheds over 30%

The selling interest in the US oil (WTI futures on Nymex) remains unabated on this Black Monday, as the rates briefly dip below the 28 handle, in a sell-off that gathered pace on a breach of $30 mark - the psychological level.

The black gold hit the weakest levels since February 2016 at $27.90 before jumping back above the $28 mark. Despite the quick pullback, the bearish bias remains intact, in light of the price war started by Saudi Arabia after Friday’s OPEC+ deal fallout.

 

more to come ...

Indonesian Consumer Confidence worsens to 117.7 in Feb, Rupiah flirts with 5-day low

The latest survey conducted by Bank Indonesia (BI), the Indonesian central bank, showed that the country’s Consumer Confidence Index slumps to 117.7 i
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USD/JPY Price Analysis: Sellers cheer the break of multi-month-old trendline, bearish MACD

Despite bouncing off more than three-year low of 101.56, currently around 102.50, USD/JPY remains on the back foot during the early Monday.
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