Friday, May 7, 2010

Crude selloff continues - MarketWatch

Crude oil for June delivery, the most active contract, lost 72 cents, or 0.6%, to $76.62 a barrel on the Comex division of the New York Mercantile Exchange. That's its lowest price since mid-February, when prices dropped to a little above $74 a barrel.

"Everything is still very much in a fragile state. Who wants to jump in just yet?" said Brad Samples, a commodity analyst for Summit Energy Inc. in Louisville, Ky. Investors pondered whether it would be wiser just to let "the uncertainly shake itself off," he said.

http://www.marketwatch.com/story/oil-futures-rebound-after-steep-selloff-2010-05-07-73800

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