Oil prices eased about 1% today as traders took profits after prices rose to 10 month highs. Rising interest rate worries are also dragging down sentiment. “Oil was ripe for a pullback. After coming a few dollars short of the $100 level, energy traders are quickly locking in profits,” Edward Moya, senior market analyst at data and analytics firm OANDA, said in a note. The US economy maintained a fairly strong 2.1% pace of growth in the second quarter and is gaining momentum with a resilient labor market driving wage gains. Brent traded down $1.17 or -1.2% to close at $95.38. WTI traded down $1.97 or -2.1% to close at $91.71.

On Mobile? Click here to download the PDF

tank car
  • Where: Hyatt Regency Dallas, Dallas, Texas
  • Attending: Cyndi Popov (403.402.5043), David Cohen (954-729-4774), Brian Baker (239)297-4519
  • Conference Website