Iran-Israel geopolitical risk continued to come out of oil today but the decline wasn’t as bad as feared. WTI finished the day down 29-cents to $82.82, well above the low of $81.85.
It was no-doubt helped by the broader improvement in risk appetite and US dollar selling that emerged halfway through US trading. That comes after a six-day rout in stocks that looks like it will end today (SPX up 1.4% currently).
This article was written by Adam Button at www.forexlive.com.
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