On Thursday Jan. 18, the New York Mercantile Exchange’s February crude oil contract dipped below $50 in the last hour of its regular pit-trading session. The last time front-month crude oil traded below $50 was on May 25, 2005. Oil has rebounded on Friday, moving above $51 by midday. The next significant support areas appear to be in the $47.50 to $48.50 range and below that a double intraday bottom at $40.25 from Dec. 2004.
Featured Topics
-
Financials
Manufacturing in US grows at slowest pace in three months
Manufacturing in the U.S. expanded in May at the slowest pace in three months, indicating the industry that’s spurred the expansion is cooling.
-
ETFs
ProShares launches ETF that targets highly rated corporate bonds
The ETF invests in covered bonds, a type of collateralized corporate debt typically issued by non-U.S. financial institutions.
-
Forex
Euro falls to 22-month low as German business confidence slides
The euro traded close to the weakest level since July 2010 versus the dollar as German business confidence slid and manufacturing shrank, stoking concern fallout from the debt crisis is spreading.
-
Options
Crude options volatility rises as futures near $90 a barrel
Crude-oil options volatility rose for the first time in three days as underlying futures slipped below $90 a barrel.
-
Sponsored by
-
Sponsored by
-
Sponsored by
-
Sponsored by
