Investing.com - Financial Markets Worldwide

Crude Oil Falls $0.15

Published 08/19/2013, 05:43 AM
Updated 07/09/2023, 06:31 AM
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Crude oil fell on Monday after Friday’s data showed that US consumer sentiment weakened in August. Residential construction rose less-than-expected, reducing chances of an acceleration in economic activity in the third quarter.

Also weighing on prices was the announcement made by BP which showed that the company could start returning offshore workers to its deepwater Gulf of Mexico oil and gas facilities after a tropical storm had dissipated.

Crude is trading around $107.31 a barrel after falling $0.15

Brent is trading around $110.30 a barrel after falling $0.10

However, losses are limited amid fears that the continued unrest in Egypt could spread across the Middle East and disturb oil supplies. Egypt is in control of the Suez Canal and its closure could hit crude shipment, as the canal carries 2.7% of the global supply.

Caution is rising ahead of the Wednesday’s FOMC minutes that will provide clues as to the scale and timing of the withdrawal of the Fed’s massive monetary stimulus measures. The market will be looking for any comments from Fed officials.

Natural gas is trading at $3.43 per cubic feet after rising 1.84%

Gasoline is trading at $2.976 per cubic feet after rising 0.29%

Heating oil (diesel) is trading at $3.0853 a gallon after rising 0.07%

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