Weak economic readings pressure NYMEX

摘要

New York-New York Mercantile Exchange March crude oil futures settled $1.60 lower at $40.08/barrel February 2 as a weak economic outlook kept the oil sector on the defensive. Crude prices were initially pulled lower by a sudden and rather sharp sell-off in the products markets following the start of open outcry, as the NYMEX March RBOB contract fell 17.72 cents to an intra-day low of $1.0917/gal.