Fundamental Oil Report (2009-09-18)

18 September 2009 @ 02:16 am EDT

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AnalysisBlack gold market prices yesterday slipped slightly despite data from the world’s biggest crude consumer, the U.S. showing that the job market posted the lowest level of jobless workers filing for jobless benefits since July. As the job market showed a slight of improvement meant that demand on energy products will start improving therefore kept oil prices from falling too low as still there are worries in the market that the global recovery is taking place but at a slow pace. The contract slid $0.04 closing at $72.47 while recording a high of $73.16 per barrel and a low of $71.66 per barrel.

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