AUG 5 TUESDAY
SHORT TERM TREND : BEARISH :l TARGET RS 5045
LONG TERM TREND : BULLISH : TARGET RS 6460
S1 RS 5085, S2 RS 5047, S3 RS 5010
R1 RS 5165, R2 RS 5205, R3 RS 5248
Crude Oil Falls to Three-Month Low as Storm to Miss U.S. Fields .
Crude oil fell to a three-month low as meteorologists forecast
Tropical Storm Edouard will miss most offshore production
facilities in the U.S. Gulf Coast while approaching Texas.
Oil dropped 3 percent yesterday as Edouard's wind speed
eased concern that offshore and platforms would be
damaged by the storm.
Crude oil for September delivery fell as much as $1.20, or
1 percent, to $120.21 a barrel in electronic trading on the
New York Mercantile Exchange, and traded at $120.37 at
12:32 p.m. Singapore time. Yesterday, crude oil dropped
$3.69 to settle at $121.41 a barrel in New York,
the lowest close since May 5.
Oil had reached a record $147.27 a barrel on July 11
because of a weaker dollar and concern supply from
Nigeria and the Middle East may be disrupted.
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