Oil breaks Thursday’s low as reversal continues


Crude drops

The market has been turned on its head in the past hour as the US dollar jumps and everything else slumps.

Oil was at the leading edge of the reversal after topping out at $53.31.

The reversal has boosted USD/CAD to 1.3272 and the move has yet to stall out.

Update: There has been a quick bounce in oil up to $51.75.


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