Crude-oil futures settle at five-week low
The Wall Street Journal
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SAN FRANCISCO (MarketWatch) -- Crude-oil futures settled at a five-week low Monday as lingering concerns about the global economy rendered efforts to post gains futile.
Crude for September delivery lost 15 cents, or 0.2%, to $75.25 a barrel, the lowest for a most-active contract since mid-July.
A weaker dollar and higher equities provided some support, and oil at times traded in positive territory. But, unlike other markets going through corrections and sell-offs, "we're just not seeing people coming around and buying," said Matt Smith, an analyst at Summit Energy in Louisville, Ky.
Investors looked to Tuesday's industrial production numbers and a trade group's estimates on inventories to provide some direction.
Gasoline futures closed at an eleven-week low, with the September contract
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Aug 17, 2010
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