Crude futures fell about 2 percent on Friday as traders paid little heed to a drop in the number of U.S. rigs drilling for oil and focused instead on a supply glut and declining stock prices on Wall Street.
Trading volumes in crude were lighter than on Thursday, with players appearing hesitant to put on big positions ahead of the U.S. Labor Day holiday weekend.
"I get the feeling the longs do not want to wait out the three-day weekend," said Tariq Zahir, a trader in crude oil spreads at Tyche Capital Advisors in Laurel Hollow, New York.
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Trading volumes in crude were lighter than on Thursday, with players appearing hesitant to put on big positions ahead of the U.S. Labor Day holiday weekend.
"I get the feeling the longs do not want to wait out the three-day weekend," said Tariq Zahir, a trader in crude oil spreads at Tyche Capital Advisors in Laurel Hollow, New York.
For Free Signals, click here KLSE online OR Give A Missed Call : +60350219047 Follow Us On Twitter : www.twitter.com/epicresearchmy Like Us On Facebook : www.facebook.com/EpicResearchMalaysia Need Any Assistance Feel Free To Mail Us at : info@epicresearch.my
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