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NYMEX September light sweet crude......>

US OIL CLOSE
US OIL CLOSE: NYMEX September light sweet crude oil futures settled down $1.14
at $47.37 per barrel, after trading in a $47.03 to $48.75 range.
- Last Thursday's low of $46.46 was the lowest since July 25, when West Texas
Intermediate bottomed at $46.38. The front contract settles Tuesday and most are
already trading the October contract, which settled at $47.53.
- West Texas Intermediate remained above its 55-day moving average, currently at
$46.54, after closing below that mark last Thursday for the first time since
late July.
- The front contract peaked August 10 at $50.22. 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.
- Risk aversion and a lack of topside follow-through, more so than a larger
shift in oil fundamentals, has weighed on prices recently.

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