Oil News

Crude Oil’s Pool-Position is 97% Long, meaning that most Finotec clients are buying the commodity.

Crude Oil holds above $68 predictions are for $70

Crude Oil’s Pool-Position is 97% Long, meaning that most Finotec clients are buying the commodity.

Oil fell on Tuesday but held above $68 a barrel as investors took profit from a jump of more than 3 percent a day earlier, spurred by hopes of economic recovery on the back of improving factory activity. Crude prices hit a near seven-month high and Wall Street soared on Monday after data showed U.S. manufacturing contracted at a slower-than-expected pace in May, industry activity expanded in China and surveys showed Europe’s situation was also easing. Crude Oil is trading $68.10 as of 9:30am, London Time. Crude Oil’s Pool-Position is 97% Long, meaning that most Finotec clients are buying the commodity.