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Greek Elections Could See Oil Drop 18% -ANZ

Greek Elections Could See Oil Drop 18% -ANZ
dj
Παρ, 15 Ιουνίου 2012 - 18:29
Crude oil prices could drop as much as 18% next week if the Greek election fails to return a positive outcome, says ANZ. Commodities more generally could drop an average 12% following the election, but oil is likely to be the biggest loser because of the relatively large number of speculators still holding long positions.
Crude oil prices could drop as much as 18% next week if the Greek election fails to return a positive outcome, says ANZ. Commodities more generally could drop an average 12% following the election, but oil is likely to be the biggest loser because of the relatively large number of speculators still holding long positions. 
However, it could also be one of the strongest rebounders (gaining up to 7%) if investors respond positively, ANZ adds. ICE August Brent -24c, or 0.3%, at $97.41/bbl. Nymex July light, sweet crude +52c, or 0.6%, at $84.43/bbl.

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