Oil News

Crude Oil dips after the rally yesterday as traders take profits

Crude Oil dips after the rally yesterday as traders take profits

Crude Oil is trading at $70.40 as of 9:30am, London Time. Crude Oil’s Pool-Position is 58% Long, meaning that most Finotec clients are buying the commodity.

Oil fell to below $71 per barrel on Tuesday, paring three days of gains, as worries about a rise in U.S. crude inventories offset optimism from positive U.S. and Chinese manufacturing data. The dollar’s fall on Monday to its lowest level this year helped push up U.S. crude oil futures by 3 percent on top of a rally of almost 10 percent last week. Crude Oil is trading at $70.40 as of 9:30am, London Time. Crude Oil’s Pool-Position is 58% Long, meaning that most Finotec clients are buying the commodity.

Derivative and forex trading broker Finotec is a division of leading real-time Internet trading company Finotec Trading Inc, which pioneered the world of online forex trading in 1998. After launching our revolutionary forex online trading platform in 2001, we continued to improve our services and now serve clients of all sizes in many locations worldwide, offering them real-time Internet trading not only in currencies, but also in options, commodities,... More