Energy Currents: Crude Lower But Starting to Firm, Global Growth Still Concerns

By Staff,

Shutterstock photo

Crude oil continues to retreat, with the front-month contract in New York declining about 0.5% to around $94.50 a barrel as worries over weak economic growth weigh on traders.

New trade numbers overnight was contributing to the bearish bias, with China reporting earlier today that crude oil imports fell almost 6% in June, suggesting that the monetary tightening in China may be starting to finally have an impact on consumption. The U.S. dollar also strengthened, making commodities like crude more expensive for international investors.

At 8:45 a.m.

AUG WTI Crude ( NY ) $94.48 -0.47

AUG Brent Crude (ICE) $116.15 -1.09

AUG Natural Gas ( NY ) $4.326 +0.038

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing Commodities
Referenced Stocks: NY

More from MT Newswires


MT Newswires

MT Newswires

Find a Credit Card

Select a credit card product by:
Select an offer:
Data Provided by