Will Oil Prices Break Out Of Their Range?

U.S. West Texas Intermediate is trading lower on Friday after giving back earlier gains. Some traders are saying the markets are taking a breather from the nearly 10% run-up this week, but we could be looking at profit-taking related to an easing of concerns over Hurricane Delta as it makes its way toward oil production facilities near the Louisiana coast. Additionally, there are reports that the strike could end later today. Week-Long Price Surge Driven by Norwegian Strike Oil prices are easing early Friday in a breather at the end of a week of…