Crude oil, energy names plunge after U.S. jobs report, weak China data – Seeking Alpha

Oil and gas names populated the session’s biggest losers as crude oil prices sink more than 3% following weak Chinese economic data and disappointing U.S. jobs growth;WTI -3.5% at $54.66/bbl, Brent -3.2% at $64.15/bbl. This morning’s worst performers on the S&P 500 are EOGĀ Resources (EOG -4.4%), Marathon Oil (MRO -4.4%), ApacheĀ (APA -4.4%), Cimarex Energy (XEC…

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Crude Oil Prices Risk Overbought RSI Signal Despite Record U.S. Output – DailyFX

Fundamental Forecast for Crude Oil: Bullish Crude Oil Talking Points Oil remains bid even though U.S. crude production climbs to a record high in February, and recent price action keeps the topside targets on the radar as the Relative Strength Index (RSI) flirts with overbought territory. Looking for a technical perspective on the Crude Oil?…

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US crude closes in bear market territory, settling at $60.67, down 21% from 52-week high

U.S. oil prices dropped for a ninth consecutive session on Thursday, falling into a bear market, on further signs of growing supply even as data showed record Chinese oil imports. Crude prices have plunged over the last five weeks, buffeted by October’s broader market slump, signs of deteriorating demand and rising output from key producers.…

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