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Are commodities sending warning sign to rest of world?

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Crude gets slammed and copper collapses. Are commodities sending a warning? With CNBC’s Melissa Lee and the Fast Money traders, Dan Nathan, Brian Kelly, Karen Finerman and Guy Adami.

The slow stochastic, which is price momentum indicator, crossed to the downside from an overbought condition and now is falling towards the over-sold territory.

See video here https://oilfieldforums.com

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Commodities

Crude Oil slipping half a percent to the weakest closing price since Feb

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U.S. West Texas Intermediate crude futures settled 25 cents lower at $53.25 per barrel, slipping half a percent to the weakest closing price since Feb. 12. Earlier in the session, WTI hit a session high of $54.63 per barrel.

Concerns that a U.S.-China trade war, and threats of tariffs on Mexico from the United States, would diminish global crude demand, however, weighed on oil prices.

“Focus has shifted from the supply to the demand side as a U.S.-China trade agreement has proven elusive and as worries over the debilitating effects of tariffs on global economic growth have now shifted to Mexico,” Jim Ritterbusch of Ritterbusch and Associates said in a note. – read more

Most of the movement for oil has been based on “economic concerns of weakened growth because of the potential impact of [the] trade situation,” said James Williams, energy economist at WTRG Economics. U.S. tariffs on Mexican goods have added to the concerns about China, he said. – marketwatch.com

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Commodities

Crude prices slumped to a three-month low on concerns with Trump’s trade policy

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Oil Opens a New Window. prices slumped to a three-month low Friday as concerns about President Trump’s trade policy Opens a New Window. and the slowdown in the Chinese economy Opens a New Window. cast doubt on the outlook for global demand.

Front-month Brent crude futures, the international benchmark, traded down 2.6% at $63.60, having earlier dipped to their lowest level since mid-February. U.S. benchmark WTI dropped 2.4% to $55.25, its cheapest price since early March. read more @ FoxBiz

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