Risk On but WTI Down on Profit-Taking

Market sentiment was buoyed by a set of upbeat manufacturing PMIs across the globe. Meanwhile, political unrest in Egypt appeared to stabilize as various media reported that President Mubarak will announce his intention to step down when his term ends in September. Oil supplies were not disrupted, triggering profit-taking in oil prices with the front-month contract for WTI crude retreating to 90.77, -1.54%, at close.

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Risk On but WTI Down on Profit-Taking