Oil Swerves Between Small Gains and Losses
Source: Market Watch, Claudia Assis and Virginia Harrison (8/2/11)
"Crude oil futures alternated between edging higher and inching down as the U.S. debt deal cleared its first legislative hurdle."
Crude oil futures alternated between edging higher and inching down Tuesday, as the U.S. debt deal cleared its first and likely biggest legislative hurdle to stave off a default, but a government report showed consumers held on to their wallets in June.
Crude for September delivery added 5 cents to $94.94 a barrel on the New York Mercantile Exchange. It traded as high as $95.45 a barrel and as low as $93.75 a barrel.
The Commerce Department said consumer spending fell 0.2% in June, the first decline in nearly two years. . .View full article