Crude oil futures trade near 1-month lows | News Canada Binary

Crude oil futures trade near 1-month lows | News Canada Binary.

Crude oil futures trade near 1-month lows

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The Future is Binary – Crude oil futures were trading near one-month lows on Friday, as concerns over potential supply disruptions in the Middle East began to subside.

Crude oil remains under pressure as supply worries subside

On the New York Mercantile Exchange, U.S. crude oil for delivery in August traded at $103.98 a barrel during European morning trade, down 0.08%.

Prices dropped 0.40% on Thursday to settle at $104.06.

Futures were likely to find support at $103.97 a barrel, the low from June 11 and resistance at $105.53, the high from July 7.

Oil prices came under pressure amid expectations for more shipments from Libya and Iran, although ongoing concerns over violence in Iraq were expected to limit losses.

Investors were also focusing on talks between Iran and world powers to end the dispute over its controversial nuclear program. Teheran has reduced demands for the size of its future nuclear enrichment program although the West is urging for further compromise.

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worked in the plastic blow molding industry for over 30 years in many facets from inspection ( Quality control) to development team. Have had more then a passing interest in computers and the internet for over 20 years, some Web programming and design, on-line auctions and ecommerce from 1997 till 2006 . was involved with the online auction cooperative movement from 1999- 2002 .. ran my own Domains & web servers for online sales Store fronts , promoteing my auctions called Dman-N-Company , a niche type auction site Musicplus. Richard Dambrosi

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