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Crude oil on 'slippery slope' to $60
- Middle East: Sunday, September 06 - 2009 at 09:00
According to technical analysis by New York-based brokerage, Auerbach Grayson, crude oil is on a "slippery slope", after failing to break through resistance and is set to test support at $60.43 a barrel, Bloomberg has reported. The failure of October oil futures to rise above $75.27 - the June 11 high - has made crude vulnerable to "significant decline," the report said.
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StaffSunday, September 06 - 2009 at 09:00 UAE local time (GMT+4)
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