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Futures Movers: Oil takes a hit from global market jitters, sending WTI to a 2-week low [MarketWatch]

CME GROUP (CME)  More Company Research Source: MarketWatch
Last cme group earnings: 4/26 07:00 am Check Earnings Report
US:NASDAQ Investor Relations: investor.cmegroup.com
PDF Oil takes a hit from global market jitters, sending Brent to 1-month lows Oil prices headed sharply lower on Monday, building on last week’s losses that were driven in large part by a stronger dollar and rising U.S. crude production. March West Texas Intermediate crude CLH8, -2.41% fell $1.51, or 2.3%, to $63.94 a barrel on the New York Mercantile Exchange, adding to a 0.5% loss from Friday. It was poised to mark its lowest finish in two weeks. Brent for April LCOJ8, -1.63% gave up $1.03, or 1.5%, to $67.55, trading at a one-month low on the ICE Futures Europe exchange. Some of the tailwinds for the oil markets in recent weeks “have become headwinds, including the U.S. dollar bottoming out, and storage drawdowns turning into inventory builds,” said Colin Cieszynski, vice president of the Canadian Society of Technical Analysts. “While stock prices have started to drop back in an overdue correction, oil prices…could be vulnerable if traders pull out of risk markets and go defensiv [Read more]

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