Oil prices are trading sideways on Tuesday morning as the market awaits new direction from second-quarter earnings figures from US retailers and a report from the Federal Reserve on the global growth outlook as a barometer of economic recovery, one player said.
The September contract for Brent North Sea crude oil, which expires on Friday, was last seen changing hands at USD 73.70/bbl on the ICE platform, up USD 0.20 on Monday's close.
Meanwhile, the October contract was last seen up USD 0.18 at USD 74.20/bbl.
In New York, the front month contract for light sweet crude oil was last seen trading up USD 0.33 at USD 70.93/bbl
Dienstag, 11.08.2009, 08:17 Uhr
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