Oil Futures Fall To The Lowest Levels Of The Session
ICM Brokers | Aug 26, 2014 02:21AM ET
Crude Oil
West Texas Intermediate oil futures fell to the lowest levels of the session on Monday, after official data showed that U.S. new home sales fell to a four month low in July, dampening optimism over the health of the economy. West Texas Intermediate crude held near the lowest price in seven months before stockpile data that will signal the strength of fuel demand in the U.S, the world’s biggest oil consumer.
Gold
Gold futures trimmed losses on Monday, after official data showed that U.S. new home sales fell to a four-month low in July, dampening optimism over the health of the housing sector. The U.S. Commerce Department reported earlier that U.S. new home sales dropped by 2.4% to 412,000 units last month, confounding expectations for an increase of 5.7% to 430,000. While Fed Chair Janet Yellen left investors concluding stimulus programs will end around October and rates rising some time in 2015, her counterparts in Europe and Japan were seen sticking with more expansionary policies going forward.
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