Crude Falls on Profit Taking

Jhon Kumar
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Location: Indore, MP, INDIA

Crude Falls on Profit Taking

Post by Jhon Kumar » Wed Jun 18, 2014 1:59 am

rude futures fell on Tuesday after investors priced in gains stemming from supply disruption fears in war-torn Iraq and sold the commodity for profits, especially considering that active oilfields remain far south from the insurgency.

In the New York Mercantile Exchange, West Texas Intermediate crude oil for delivery in August traded at $105.85 a barrel during U.S. trading, down 0.42%. New York-traded oil futures hit a session low of $105.47 a barrel and a high of $106.67 a barrel. The August contract settled up 0.12% at $106.30 a barrel on Monday. Nymex oil futures were likely to find support at $105.47 a barrel, the session low, and resistance at $106.84 a barrel, Friday's high.


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