[…] Crude Oil Closes High – Production Drop in The US and Opec Cuts are in Focus

[…] A prolonged rally above the $40 level “will be difficult for WTI crude as restrictions are not going away anytime soon… so oil prices at best might have another dollar or two to climb higher,” said Edward Moya at Oanda.

Meanwhile, oil traders have flagged the start of hurricane season as a potential headwind for crude oil prices.

Ref.: http://fxempire.com/forecasts/article/crude-oil-closes-high-production-656482

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