Oil up $3

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The rally in oil is continuing and WTI is now up more than $3 to $92.18.

When oil and risk appetite diverge, it’s unusually geopolitical.

Some bullish signals with the 3-day reversal but oil will need to climb above $94 before it gets any real momentum.

Author: Adam Button

Adam Button is the managing editor of ForexLiveâ„¢. He was previously the chief currency strategist at XForex and has also worked with Intermarket Strategy. Adam believes there's an edge in knowing every tidbit of news. He was formerly the head of the markets team at the Canadian Economic Press and is a graduate of Ryerson University. Adam lives in Montreal, follow him on Twitter: @FX_Button.

2012-10-09T16:20:46+0000

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oil

Adam Button

5 Comments

  1. and in that area (94$) it will most probably good to sell it

  2. Good afternoon, Adam. Perhaps, here is where your momentum will comes from: http://www.aljazeera.com/news/middleeast/2012/10/2012109113457809700.html

  3. I don’t really see that as a major risk. Iran is really the one to watch.

  4. Iran will play “develop the nuke” another 20 years as far as they’re concerned.

    The risk is US, but good luck figuring out if and when…

  5. Lord and master over the world`s largest oil reserves, Hugo Chavez is backing Obama in the race to the Whitehouse. He obviously prefers a democrat with colonial designs on Venezuela to a colonial republican with a history of getting folks fired ;).

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