Crude Losses Mount as Optimism Deflates, Storm Threat Fizzles

摘要

Crude oil extended recent losses Monday as a recovery of global demand remained elusive and several tropical weather disturbances posed no immediate threat to the Gulf of Mexico.October Brent on ICE Futures ended down 90￠ at $70.54 per barrel, while September Nymex futures lost 76￠ to $66.75.“Some of the air in the balloon that was related to economic recovery has been let out,” said Gene McGillian at Tradition Energy. Monday’s losses extended Friday’s declines of $3 for September Nymex and $2.50 for October Brent.