Crude, Products Continue to Tumble as Traders Optimism Fades

摘要

Crude futures fell for a third straight day Thursday, settling under $76 per barrel, in a sell-off tied to a stronger dollar and fears of a stagnant US economy. Nymex September crude fell $2.28 to settle at $75.74 per barrel - the lowest front-month close since Jul. 12 - and brought combined losses to $5.74 since Monday. September Brent on ICE Futures in London closed Thursday down $2.12 at $75.52. “Today you saw more bailing out of new longs who poured into the market on expectation of a summer-to-fall seasonal rally that did not happen,” said Walter Zimmerman of United ICAP.