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Crude Oil and the United States Oil Fund (NYSE:USO) are continuing to break to the upside as investors are seeing strong demand due to colder than normal temperatures in the United
According to The National Weather Service (NOAA), the 6 to 10 day forecast projects colder than normal and much colder than normal temperatures in the eastern half of the United States.
This morning, WTI crude oil is up more than $2 dollars per barrel and is pressing on weekly resistance at $81.30 a barrel. A weekly break of this resistance level could create a technical push to $100 dollars a barrel.