Oil Extends Weakness, Poised for Monthly Decline
BonTradeInvestors continue to offload the long positions taken late last week as macroeconomic economic outlook remains uncertain. WTI crude oil price falls for a second day amid concerns that slowdown in US recovery will curb demand. Currently trading at 73.6, the font-month contract will probably record the first decline in 2 months. Oil products also weaken in tandem with gasoline tumbling almost -10% while distillate losing around -3%.
