Oil Prices Pop Higher On Saudi Twitter Rumor – ValueWalk Premium
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Oil Prices Pop Higher On Saudi Twitter Rumor

Oil futures popped higher Wednesday, as fundamental reports, rumors and technical support all played a role.

Citing rumors on Twitter of a pipeline explosion in Saudi Arabia as among the reasons for the brief respite higher in price, a Wall Street Journal report said that a spokesperson for Saudi Armco, the Saudi oil company, had seen the rumors but was unable to confirm.

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