Oil prices are losing ground on Tuesday morning, as market participants returning from a long Easter weekend are selling out positions in a bout of profit-taking.
he front month contract for Brent North Sea crude oil was last seen changing hands at USD 123.15/bbl on the ICE platform, down USD 0.51 on Monday's close.
On Nymex, the WTI June contract last traded USD 0.99 lower in electronic trading at USD 111.27/bbl.
"We had a rally late last week,” oil analyst Victor Shum at Purvin & Gertz in Singapor
Dienstag, 26.04.2011, 08:17 Uhr
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