Risk aversion, amid ongoing Greek debt and political woes, has continued to hit crude oil price that fell to its lowest in 4 months at $94.01 a barrel on Wednesday.
Despite attempting to move higher, crude in New York for July delivery was capped by the $95.75 area during the European session, and has been moving sideways between $94.30 and the mentioned peak ever since. At time of writing, crude is quoting at $94.90 per barrel, 0.04% lower since opening.
In London, Brent for July delivery is flat on the day, trading at the $113.60/70 per barrel.
"We maintain our cautious but still bearish outlook for crude oil prices, since investors will be following the recent developments around global economies, and especially in the United States economy, as more bad economic data will put further downside pressure on crude oil prices," said the CommoditiesMansion.com Analysis Team.
Tags: aversion greek debt political woes attempting crude crude oil prices commoditiesmansion.com
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