Crude prices remained buoyant but......>

US OIL CLOSE: Crude prices remained buoyant but off this week's highs.

- NYMEX October light sweet crude oil futures settled down 0.07 at $49.09 per

barrel, after trading in a $48.63 to $49.33 range. The front contract peaked

Wednesday at $49.42 and stalled ahead of its 200-day moving average, currently

at $49.52.

- Only last week, on August 31, West Texas Intermediate posted a low of $45.58,

the lowest since July 24, when the front contract posted a low of $45.40.

- WTI posted a high of $50.22 on August 10. This came after topping out at

$50.43 August 1 and $50.41 July 31, which was also the last time West Texas

Intermediate closed above the $50 mark.

- As background, WTI topped out at $52.00 May 25, before the announcement of a

nine-month extension of OPEC/non-OPEC production cuts. The extension was largely

priced in and oil fell to $42.05 on June 21.