Oil lower following eight consecutive winning weeks

Oil futures traded slightly to start the week in Asia as traders are perhaps taking profits after crude booked its eighth consecutive week of gains last week on the back of some encouraging U.S. economic data points.

On the New York Mercantile Exchange, light, sweet crude futures for March delivery fell 0.21% to USD97.56 per barrel. Last week, oil futures rose 1.6%, the eighth consecutive weekly gain. The impressive win streak marks the longest run of weekly gains since August 2004.Continue Reading...


By Investing.com