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Commodity Daily News
Crude Prices May Drop Following British Reports
Tuesday, 30 Mar 2010
While Crude Oil prices have been fluctuating quite heavily as of late, a decrease in risk sentiment among investors may lead to a prolonged downtrend. Investors are likely to be turned off from risk taking depending on the outcomes of both British reports set to be released today. Additionally, if USD receives a boost due to the Consumer Confidence report, traders are warned that the price of oil may drop.
Of course, any trend that oil takes today may change drastically after Wednesday's U.S. Crude Oil Inventories report. Traders should be aware that if the inventory comes in below expectations, the price of crude will likely rise in afternoon trading.
