Post OPEC price weakness…

by Jim Colburn • Tuesday, December 5, 2017

This is probably the main reason oil prices are weaker since last week’s OPEC meeting, from Reuters:

”“Oil prices are continuing to crumble,” said Carsten Fritsch, analyst at Commerzbank. “We attribute the price slide to profit taking by speculative investors, who were holding almost record-high net long positions ahead of OPEC’s meeting.””

Here is the WTI price chart from barchart.com:

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