{"id":11368,"date":"2010-07-07T08:54:31","date_gmt":"2010-07-07T06:54:31","guid":{"rendered":"http:\/\/bontrade.org\/blog49\/11368\/wti-oil-price-heads-back-under-72-on-latest-us-data\/"},"modified":"2010-07-07T08:54:31","modified_gmt":"2010-07-07T06:54:31","slug":"wti-oil-price-heads-back-under-72-on-latest-us-data","status":"publish","type":"post","link":"https:\/\/bontrade.org\/blog49\/11368\/wti-oil-price-heads-back-under-72-on-latest-us-data\/","title":{"rendered":"WTI oil price heads back under $72 on latest US data"},"content":{"rendered":"

WTI Light oil prices finished yesterday’s trading session lower near the $72 mark as the latest set of data from the US suggests that any US economic recovery may stall. US Light crude oil futures for August 2010 delivery were at $71.95 at 07.45 GMT today on the NYMEX. In the first day of trading after a long holiday weekend, WTI oil prices hit a high of $73.86 a barrel then fell back nearly two dollars as the US Institute of Supply Management said that its non manufacturing index declined to 53.8 points from 55.4 in May 2010. “It looks like the market just gave way,” said analyst Jason Schenker at Prestige Economics. \u201cThe market has been oversold and that\u2019s why we are seeing pricing resisting to go below $72 and we are edging back up.\u201d said Victor Shum, a senior principal with energy consultants Purvin & Gertz, Singapore. Oil traders will be mulling crude inventory levels announced by the US API later today, together the US EIA report tomorrow to get a better picture on the health of the US economy and in turn, future oil price direction. WTI oil trading over $73 as stock markets lift oil prices WTI oil trading down 3 percent, near $73 on grim US data WTI oil price trading higher on US dollar & supply data Euro in Greek tailspin, US dollar firms & oil prices holding out Light oil price trading up as US dollar takes a knock WTI oil price moves lower, awaits Tuesday’s US market open WTI oil price trading near $73, time to get long on oil? Oil prices in upward storm as nature whips the Gulf again July WTI Light oil price trading near $73 on US data Oil prices start the week trading higher on US data US Light oil prices fall under $82 on Goldman Sachs news Crude oil prices hit 2010 trading high on falling US dollar Light oil prices end the week well above $80 trading range Oil prices trading near 2010 highs on latest US jobs data Oil prices trading steady, awaits US crude inventory data Oil prices trading down two percent on latest US jobs data Oil prices end week’s trading session down eight percent WTI oil price drops to $72 mark on US jobs data, markets WTI oil price lower, Hurricane Alex to miss Gulf oil platforms WTI oil prices trading higher, eyes on Gulf hurricane Alex <\/p>\n

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\nWTI oil price heads back under $72 on latest US data<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

WTI Light oil prices finished yesterday’s trading session lower near the $72 mark as the latest set of data from the US suggests that any US economic recovery may stall. US Light crude oil futures for August 2010 delivery were at $71.95 at 07.45 GMT today on the NYMEX. In the first day of trading after a long holiday weekend, WTI oil prices hit a high of $73.86 a barrel then fell back nearly two dollars as the US Institute of Supply Management said that its non manufacturing index declined to 53.8 points from 55.4 in May 2010. “It looks like the market just gave way,” said analyst Jason Schenker at Prestige Economics. \u201cThe market has been oversold and that\u2019s why we are seeing pricing resisting to go below $72 and we are edging back up.\u201d said Victor Shum, a senior principal with energy consultants Purvin & Gertz, Singapore. Oil traders will be mulling crude inventory levels announced by the US API later today, together the US EIA report tomorrow to get a better picture on the health of the US economy and in turn, future oil price direction. WTI oil trading over $73 as stock markets lift oil prices WTI oil trading down 3 percent, near $73 on grim US data WTI oil price trading higher on US dollar & supply data Euro in Greek tailspin, US dollar firms & oil prices holding out Light oil price trading up as US dollar takes a knock WTI oil price moves lower, awaits Tuesday’s US market open WTI oil price trading near $73, time to get long on oil? Oil prices in upward storm as nature whips the Gulf again July WTI Light oil price trading near $73 on US data Oil prices start the week trading higher on US data US Light oil prices fall under $82 on Goldman Sachs news Crude oil prices hit 2010 trading high on falling US dollar Light oil prices end the week well above $80 trading range Oil prices trading near 2010 highs on latest US jobs data Oil prices trading steady, awaits US crude inventory data Oil prices trading down two percent on latest US jobs data Oil prices end week’s trading session down eight percent WTI oil price drops to $72 mark on US jobs data, markets WTI oil price lower, Hurricane Alex to miss Gulf oil platforms WTI oil prices trading higher, eyes on Gulf hurricane Alex <\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-11368","post","type-post","status-publish","format-standard","hentry","category-welcome-start-here-tradecrudeoilchatroom"],"_links":{"self":[{"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/posts\/11368","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/comments?post=11368"}],"version-history":[{"count":0,"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/posts\/11368\/revisions"}],"wp:attachment":[{"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/media?parent=11368"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/categories?post=11368"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/tags?post=11368"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}