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Technical analysis for crude oil - 5/16/2008

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16 May 2008 @ 03:50 am EST

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A slight slip in crude oil prices yesterday as global oil demand was forecasted to increase by 1.35% with a prior estimate of 1.40%. As there remains a global slowdown in economies and with the massive rise in prices lately, it is becoming harder on consumers and businesses to demand oil. The market still awaits President Bush

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