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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