Oil prices are softening on Wednesday as players take some profit after prices hit three-month intraday highs of USD 112.56/bbl in the previous session, participants said.
The front month contract for Brent North Sea crude oil was last seen changing hands at USD 111.82/bbl on the Ice platform, down USD 0.18 on Tuesday's close, while the WTI September contract on Nymex traded USD 0.41 lower at USD 93.26/bbl.
"There's a bit of profit-taking, after some optimism [regarding further US stimulus],” Avtar Sandu, analyst with Phillip Fut
Mittwoch, 8.08.2012, 08:25 Uhr
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