Crude Edges Lower, and Could Face Short-term Headwinds
Crude oil prices moved lower on Friday and are holding just above support levels as the in-line job report released by the Department of Labor helped buoy prices. The recent uptick in prices will likely bring back a number of US fracking producers and when combined with non-US producer’s still generating supply, prices could face immediate headwinds.
U.S. nonfarm payrolls rose 223k in April, with…
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