Crude oil prices eased in early Asia on Mondy though remain supported on potential geopolitical flare-ups in key oil producing regions.
NYMEX crude oil prices dip in Asia though tension over Russia supportsNYMEX crude prices down in Asia
On the New York Mercantile Exchange, U.S. crude oil for delivery in September traded at $101.81 a barrel, down 0.14%, after ending last week at $101.95 a barrel.
Data from the Commodities Futures Trading Commission released Friday showed that hedge funds and money managers decreased their bullish bets in New York-traded oil futures in the week ending July 15.
Elsewhere, on the ICE Futures Exchange in London, Brent oil for September delivery shed 0.6%, or 65 cents, to settle the week at $107.24 a barrel.
The September Brent contract advanced 0.54%, or 58 cents, on the week.
Oil spiked on Thursday following the shooting down of a Malaysia Airlines jet in eastern Ukraine, with the U.S. blaming pro-Russian separatists for the act.
Moscow has denied involvement in the crash, which came a day after the U.S. announced a fresh round of sanctions against Russia for supporting separatists in east Ukraine.
Markets were also unsettled as Israel expanded its ground offensive in Gaza against Hamas militants who fired hundreds of rockets into Israel.
Oil prices have been under heavy selling pressure in recent weeks as investors pared back positions that had priced in the possibility of major supply disruptions stemming from violence in Libya and Iraq.
eyes on the Crude oil today .
NYMEX crude oil prices dip in Asia though tension over Russia supportsNYMEX crude prices down in Asia
On the New York Mercantile Exchange, U.S. crude oil for delivery in September traded at $101.81 a barrel, down 0.14%, after ending last week at $101.95 a barrel.
Data from the Commodities Futures Trading Commission released Friday showed that hedge funds and money managers decreased their bullish bets in New York-traded oil futures in the week ending July 15.
Elsewhere, on the ICE Futures Exchange in London, Brent oil for September delivery shed 0.6%, or 65 cents, to settle the week at $107.24 a barrel.
The September Brent contract advanced 0.54%, or 58 cents, on the week.
Oil spiked on Thursday following the shooting down of a Malaysia Airlines jet in eastern Ukraine, with the U.S. blaming pro-Russian separatists for the act.
Moscow has denied involvement in the crash, which came a day after the U.S. announced a fresh round of sanctions against Russia for supporting separatists in east Ukraine.
Markets were also unsettled as Israel expanded its ground offensive in Gaza against Hamas militants who fired hundreds of rockets into Israel.
Oil prices have been under heavy selling pressure in recent weeks as investors pared back positions that had priced in the possibility of major supply disruptions stemming from violence in Libya and Iraq.
eyes on the Crude oil today .
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