Crude oil moved in a sideways manner today as the selling in Asian equities and Japan debt downgrade interplayed to turn sentiments cautious during the course of the session. US stocks recorded an impressive surge in overnight trades but the stocks slid lower in Asia today after Global ratings agency Moodys Investors Service cut its rating on Japans government debt by one notch to Aa3 today, citing large budget deficits and a buildup of debt since the 2009 global recession in the worlds third largest economy.
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