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

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.