(Yahoo Finance) WTI (West Texas Intermediate) crude oil futures contracts for February delivery fell by 1.8% and closed at $36.81 per barrel in yesterday’s trade. Likewise, Brent crude oil prices fell by 2.0% and closed at $36.62 per barrel. The renewed concerns of rising production from Iran and weak demand weighed on the crude oil market yesterday. The United States Oil Fund (USO) and the ProShares Ultra Bloomberg Crude Oil ETF (UCO) fell by 3.3% and 6.5%, respectively, in yesterday’s trade.
Hedge Funds Continue to Be Bearish on Crude Oil Prices
This entry was posted in Syndicated. Bookmark the permalink.
