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Next Week Brent Will Continue Trading $48 per Barrel

Oil is still trading in a narrow range. On Thursday and in the Morning on Friday, the US dollar is losing out to the euro and so oil is going up. However, it’s worth keeping in mind that $48 USD per barrel of oil has become an important level and quotes are sticking close to it. There are not enough fundamental reasons to form a new channel. Most likely, the current sideways trend will continue into the next fortnight.

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