The oil dip-buyers score a rare win
There has been a curious pattern in trading so far this year with oil prices bid up in Asia and then slammed down in US trading. That looked to be continuing today as oil hit a session low at 9 am ET. But it turned around from there and was big throughout US trading, erasing a $2 decline to settle higher by 16 cents at $72.56.Oil is now slightly higher year-to-date but it has been an unpleasant ride for both sides of the trade. This article was written by Adam Button at www.forexlive.com.
There has been a curious pattern in trading so far this year with oil prices bid up in Asia and then slammed down in US trading. That looked to be continuing today as oil hit a session low at 9 am ET. But it turned around from there and was big throughout US trading, erasing a $2 decline to settle higher by 16 cents at $72.56.
Oil is now slightly higher year-to-date but it has been an unpleasant ride for both sides of the trade. This article was written by Adam Button at www.forexlive.com.
