Crude Stabilizes After Six-Day Slide
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Oil prices stabilized today after their six-day slide. Light sweet crude for August settlement was $71.98, compared to $72.14 at the settle last Friday. Prices closed as high as $78.86/barrel on June 24th, have been closing lower every day since. Prices were as high as $73.86 intra-day. In electronic trade, crude is currently up $0.14 to $72.28.
On the day, United States Oil Fund, LP ETF (NYSE: USO) is just about even, to $32.59, and iPath S&P GSCI Crude Oil Total Return Index ETN (NYSE: OIL) up 0.05% to $21.17.
Energy stocks are also about flat. Exxon Mobil (NYSE: XOM) is up 1.11% to $57.20, ConocoPhillips (NYSE: COP) is up 0.29% to $48.96, and Chevron Corp. (NYSE: CVX) is down 0.19% to $67.18/
On the day, United States Oil Fund, LP ETF (NYSE: USO) is just about even, to $32.59, and iPath S&P GSCI Crude Oil Total Return Index ETN (NYSE: OIL) up 0.05% to $21.17.
Energy stocks are also about flat. Exxon Mobil (NYSE: XOM) is up 1.11% to $57.20, ConocoPhillips (NYSE: COP) is up 0.29% to $48.96, and Chevron Corp. (NYSE: CVX) is down 0.19% to $67.18/
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