Oil futures drop after touching highest intraday level of 2019

February 4, 2019


Oil futures dropped on Monday, after briefly touching their highest intraday levels of the year, with prices looking to give up much of the gains they scored last week.

“Crude prices hit new highs for 2019,” said Phil Flynn, senior market analyst at Price Futures Group, but has hit “some stiff technical resistance—near $56 a barrel” for U.S. benchmark oil.

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