US Crude Falls Again But Settles Above $48 Support

摘要

US crude futures traded below $48 for much of Friday afternoon but managed to narrow their losses to close just above that level after a late rally. Technical analysts said that had averted another big step down, for the time being. In the current volatile market, traders have been looking to technical charts to give them some direction. September Nymex WTI crude futures settled 31￠ lower at $48.14 per barrel in New York and were down $2.75 for the week.