NYMEX Oil Complex Lower on Profit-taking, Weak Equities, Stronger Dollar

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NYMEX Oil Complex Lower on Profit-taking, Weak Equities, Stronger Dollar

March 09, 2010 8:10:AM ET

By John Troland

Houston, TX March 9, 2010 8:10 AM ET
The April NYMEX crude, RBOB gasoline and heating oil contracts are all called to open below Monday's settles. Since there has been little market moving news overnight we are attributing the negative opening to three factors. The most important of these was a round of profit-taking that we suggested was possible last evening in our final report. Also aiding in the overnight sell-off is a rally in the dollar and an expected weak opening for U.S. equity markets.
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