Oil complex cools on profit taking, return to fundamentals

摘要

New York-The crude futures rally cooled off Friday, as the complex settled in negative territory despite a weaker dollar and the Baker Hughes rig count showing that US drilling activity continues to decline. NYMEX June crude settled 11 cents lower at $45.92/b, while ICE June Brent fell 1 cent to settle at $48.13/b. Refined products also fell, with NYMEX May RBOB settling 1.32 cents lower at $1.5848/gal and NYMEX May ULSD 2.67 cents lower at $1.3779/gal. Both contracts were trending higher during morning trading before the complex turned around after 11 am EDT (1500 GMT). NYMEX crude peaked at $46.78/b and ICE Brent reached $48.50/b.