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‘The stock market is now 35% passive and 65% terrified’ Add to ...

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A roundup of what The Globe and Mail’s market strategist Scott Barlow is reading today on the Web

I don’t think many investors would have guessed that OPEC production cuts would be the catalyst for sustained weakness in the crude price, but here we are,

“Oil headed for the longest run of weekly losses since August 2015 as OPEC member Libya restored production just as the surplus in the U.S. showed few signs of abating … 'There is really no bullish twist to the latest U.S. data,' said Michael Dei-Michei, head of research at Vienna-based consultants JBC Energy GmbH. 'Implied crude production seems to have moved upwards at a rather rapid pace, U.S. gasoline demand has taken a turn to the downside just as the summer driving season starts and total U.S. oil stocks have not drawn for two weeks.'”

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