Last Wednesday's U.S. government data showing a large rise in weekly crude inventories caused a nearly $5 profit-taking sell-off by speculative funds, but did not eliminate worries over US unstable winter fuel stocks.
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Oil Prices Keep On Rallying
Crude prices on Monday continued to rise
Crude prices continued rallying on Monday as it was predicted, rising back beyond $52 because of new US winter supply fears and this week?s US presidential election jittery.
U.S. light crude climbed 51 cents to $52.27 a barrel in early Asian trading.
Last Wednesday's U.S. government data showing a large rise in weekly crude inventories caused a nearly $5 profit-taking sell-off by speculative funds, but did not eliminate worries over US unstable winter fuel stocks.
Last Wednesday's U.S. government data showing a large rise in weekly crude inventories caused a nearly $5 profit-taking sell-off by speculative funds, but did not eliminate worries over US unstable winter fuel stocks.
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