Expiry, US Fed worries hammer NYMEX crude

摘要

New York—NYMEX September crude settled $2.14 lower at $104.96/barrel Tuesday on worries over US Federal Reserve tapering of monetary stimulus, while the front-month contract’s expiration added to volatility. October crude settled $1.75 lower at $105.11/b. September ULSD settled 74 points higher at $3.0784/gal and RBOB ended the session down 61 points at $2.9272/gal. Commodity analyst Matt Smith of Schneider Electric said many buyers were sidelined awaiting the US Federal Reserve’s July meeting minutes to be released on Wednesday when investors will “scrutinize the document, with the minor tweaks to verbiage from the last statement moving the markets.”