Oil prices are trading flat on Wednesday morning after having gained slightly on US dollar weakness in the previous session and should continue sideways until fundamentals improve, one player said.
The front month contract for Brent North Sea crude oil was last seen changing hands at USD 74.35/bbl on the ICE platform, up USD 0.07 on the previous close. In New York, the WTI September contract last traded USD 0.09 lower at USD 71.33/bbl. Both contracts traded higher earlier in the session.
On Tuesday, Brent gained USD 0.73 to end the day at USD 74.28/bbl, following trades in a U
Mittwoch, 5.08.2009, 08:19 Uhr
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