Crude drops below $80 ahead of stock data

摘要

New York-New York Mercantile Exchange April crude oil settled $1.44 lower at $79.80/barrel March 15, pressured by weaker equities markets and a stronger US dollar. The contango continued to narrow, however, likely reflecting more bullish demand projections. The NYMEX April/May crude spread settled at minus 28 cents/b, narrowing from minus 44 cents/b on March 8.