WTI oil price trading near $76 on US stock market slide

WTI oil prices are trading back near $76 today after the US stock market closed over one percent lower when US Federal Reserve comments spooked investor confidence.

US Light crude oil futures for September delivery were trading at $76.50, 08.00 GMT today on the NYMEX.

On Wall St, early gains after strong company results from Apple and Morgan Stanley were quickly erased once Fed Chairman Ben Bernanke began his speech.

Ben Bernanke said the economic outlook remains “unusually uncertain” without offering additional measures to stimulate growth.

The Euro fell more than 1% to trade below $1.28 to the US dollar as risk aversion in WTI oil prices closed at $76.56 per barrel yesterday evening.

Given the weakness we have seen in Asian markets, the wave of negative sentiment is set to sweep across Europe again. Looking at today’s trading session, it’s another busy day on the earnings calendar in the US with Caterpillar, UPS and AT&T report before the bell, whilst Microsoft and Amazon are due after the close.