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Brent Oil Prices Extend Declines Following Range Break
Brent crude oil prices (UKOIL) tumbled on Monday, following a range break on Friday. Selling pressure started in early Asian trading, while a break lower was triggered in early North American trading that sent the instrument to 10-week lows. UKOIL was last seen at $44.83 for a decline of 1.87% on the day. Brent oil prices fell into a range in the second week of July, and have been trading in a broader zone between $46.00 and $48.50, while a declining trendline has capped rallies ahead of the upper range bound. A break lower from the two-week range was seen on Friday, and a recovery attempt from this week’s open ... (full story)