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

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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

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This article appears in: Investing , Commodities


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