Oil falls as dealers take profits

Discussion in 'Commodity Futures' started by ASusilovic, Sep 28, 2007.

  1. Oil eased on Friday as traders took profits from near-record prices and as worries lingered over a slowdown in the U.S. economy.

    U.S. crude dipped 15 cents to $82.73 by 2:14 p.m., after gaining $2.58, or 3.24 percent, in the previous session. London Brent crude rose 11 cents to $80.14.

    "The market just ran out of momentum here and there's been some profit-taking as there was no hard news to drive the market to new highs," said Phil Flynn, analyst at Alaron Trading in Chicago.


    What, no talk about a no-brainer backwardation trade ?... :confused:
  2. They would of, if Oil was up. Assh*les