Crude Oil Fails to Stay above 100 after Disappointing US Data
BonTradeCrude oil breaches 100 level briefly earlier today but fails sustain gain above there. US conference board leading indicators unexpectedly dropped for the first time since last june, by -0.3% in April. The negative reading some what confirmed market's concern on the US economy over the next three to six months. Philly Fed survey also dropped sharply to 3.9 in May while existing home sales missed expectation and dropped by -0.8% to 5.05m annualized rate in April. The overall negative batch of US data sent crude oil back below 99 level to extend recent consolidations.
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Crude Oil Fails to Stay above 100 after Disappointing US Data
