08.08.2008 22:12

OIL: Support is on $109.60

NYMEX September light sweet crude oil futures hold at $116.47 per barrel, after trading in a $115.61 to $120.08 range. The front contract, which settled at $120.02 Thursday, posted a record high of $147.27 onJuly 11. Analysts are watching key support at $109.60, where the 200-day moving average comes in.






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