Strength in the early going yesterday suggested that market participants were drawing a measure of solace from ongoing fiscal negotiations in Washington and Brussels. But those hopes were short lived after yesterday’s NYMEX open ushered in session long selling that pushed prices back to an 89.09 settlement. So far today, price action has struggled to maintain 89.00 showing how fragile investor confidence is that a substantive resolution can be reached that will allow for demand growth.
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