Oil prices trading negative on profit taking, stock markets

Oil prices fell in early trading on Monday in Asia as investors locked in profits on expectations that crude oil prices may not be sustainable above $80 a barrel level. Light crude oil futures for delivery in April traded at $80.21 a barrel at 0647 GMT, down $0.47 on the NYMEX, while Brent crude oil futures on London’s ICE Futures Exchange fell $0.32 to $79.56. “The oil complex has been strangely susceptible, in widely varying degrees, to talk about economic recovery and to movements in the US dollar and in equities. Oil has become a mirror, but what it is reflecting changes.” said Peter Beutel, president of Cameron Hanover. “The market’s downward movement today is likely due to the fallout from the market’s sentiment on Friday,” said David Moore, a commodity strategist with the Commonwealth Bank of Australia in Sydney. Oil prices trading steady, awaits US crude inventory data Oil prices trading steady around $80, stronger US dollar Oil prices trading higher, maybe closing in on $80 mark Oil prices & commodities trading higher, US dollar slides Oil prices trading down two percent on stronger US dollar Daily crude oil trading report from ODL Markets Daily crude oil trading report from ODL Markets Oil prices above $82 as traders look to US supplies, OPEC Crude oil prices trading lower on stronger US dollar Daily crude oil trading report from ODL Markets Crude oil prices trading under $81 eyes on Fed, US dollar Light oil prices end the week well above $80 trading range Oil prices trading near 2010 highs on latest US jobs data Brent oil price trading back over $78 on higher markets Oil prices trading back over $80 mark on higher markets The Weekly Oil Futures Wrap at Live Oil Prices Oil prices trading down two percent on stronger US dollar Oil prices trading higher on Iran, Asian stock markets up Light oil prices trading around $74, eyes on US Dollar Brent oil price trading static, awaits US oil inventory data

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Oil prices trading negative on profit taking, stock markets