Nymex crude bounced, but economy lingered
Crude oil futures rebounded off a slip on Tuesday in Asia as traders repositioned themselves amid dwindling regional share markets, which reflected underlying concerns over the health of the economy.
Yusuke Seta, a broker at Newedge Japan, stated:
If the market runs into resistance, it has the potential to fall sharply. There’s no news to keep it going higher.
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Tue, Apr 7, 2009
Post by Mike Rodger, Oil Reporter