Oil News

Crude oil is trading at $81.25 as of 21:58PM, London Time. Crude’s Pool-Position 13% Long, meaning that most Finotec clients are selling the commodity.

Crude oil falls on profit taking after the surge and the weakening dollar

Crude oil is trading at $81.25 as of 21:58PM, London Time. Crude’s Pool-Position 13% Long, meaning that most Finotec clients are selling the commodity.

U.S. crude oil futures were down about 1 percent on Thursday, as traders booked profits after a rally to $82 a barrel, highest in a year, on Wednesday. Early bearish news on the labor front weighed on oil futures. The number of U.S. workers filing new claims for unemployment benefits rose more than expected last week, according to a Labor Department report. Prices had risen on Wednesday as a weak dollar attracted commodities buying and government oil inventory data showed a sharp drop in gasoline supplies and a smaller-than-expected rise in crude oil stocks. Crude oil is trading at $81.25 as of 21:58PM, London Time. Crude’s Pool-Position 13% Long, meaning that most Finotec clients are selling the commodity.