CRUDE OIL: - CONSOLIDATE STRATEGY BUY ON DIPS R2-6450 R1-6380 S1-6250 S2-6170
Crudeoil rallied as concerns persisted that an insurgency in Iraq could disrupt oil exports from the second-largest OPEC producer.
Oil markets should be balanced during the second half of this year with extra production sufficient to meet growing demand.
The IEA played down fears over the possible sudden loss of oil exports from Iraq in its monthly Oil Market Report.
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