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.