Oil prices remain relatively range bound since the third week of October. The spot WTI contract has traded between $84/bbl to $88/bbl for the last 17 trading sessions. Similarly the spot Brent contract has been trading in a range of $105/bbl to about $112/bbl over the same timeframe. Volatility has been relatively low compared to most of 2012 even in an environment with major uncertainty coming from the major economies of the world.
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