Oil retreated in Asian trade today as investors took profits from recent gains, while renewed concerns about the eurozone’s debt problems also pressured prices, analysts said.New York’s main contract, West Texas Intermediate (WTI) crude for delivery in June was down 36 cents to USD 105.80 per barrel while Brent North Sea crude for June shed 23 cents to USD 119.43 in morning trade.
“There has been some profit-taking in the market after the WTI reacted very positively to strong US and Chinese manufacturing data,” said Victor Shum, senior principal at Purvin and Gertz energy consultants in Singapore.
From: http://ping.fm/TptUL
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