Crude Oil Prices Remain Under Pressure After Dipping Below $70 a Barrel in Week
Oil Market Summary for 05/17/2010 to 05/21/2010
Crude oil prices ended just above $70 a barrel on Friday after dipping below that threshold earlier in the week. The benchmark June contract for West Texas Intermediate settled at $68.01 before it expired on Thursday, after falling below $65 a barrel in intraday trading.
The decline from $87+ a barrel reached earlier in the month is more than 20%, fitting some analysts’ definition of a bear market. Continued weakness
Read the original story at Oilprice.com
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