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Nymex crude bounced, but economy lingered
April 7, 2009 @ 7:57 am In Oil Market News
Crude oil futures rebounded off a slip on Tuesday in Asia as traders repositioned themselves amid dwindling regional share markets, which reflected underlying concerns over the health of the economy.
Yusuke Seta, a broker at Newedge Japan, stated:
If the market runs into resistance, it has the potential to fall sharply. There's no news to keep it going higher.
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