Oil pulled lower by U.S. GDP data

Sunday, October 11, 2009

NYMEX Crude Oil Futures for April delivery fell 0.80 to settle at 44.44 a barrel.

That is 11% higher than Monday`s opening price. Even though, many oil traders say there is little chance prices will hold in the current economic environment, which has led to an anemic demand for energy. The sentiment is still bearish for oil prices.

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