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Crude prices seen pulling back to US$60 and below by year-end

Deutsche Bank cites strengthening US dollar, high US oil production and low cuts by Opec

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The US dollar is negatively correlated to crude prices. A long-term uptrend in the US dollar is believed to be underway.

Singapore

DESPITE a sharp rally in crude prices since mid-January this year, Deutsche Bank sees oil prices falling back to US$60 and below per barrel by year-end, on the back of a strengthening US dollar, high US oil production as well as low oil production cuts by the Organization of

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