Oil futures prices advanced nominally today following strength in US equities market, which is indicating to some investors the economy is remaining stable. However, consumers apparently don't agree with the optimism, as US consumer confidence dropped to a three-month low in a Conference Board report released today. Meanwhile, residential real estate prices in January fell by the largest amount in more than a year, according to data released by S&P/Case-Shiller. Crude oil found some traction after the International Energy Agency said that Libyan oil output has eroded to a "trickle" because of the conflict in the region.
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