Last week crude oil futures shed about 3.1%, down for a fourth straight week. Concerns of disruption in crude supplies from
Indications the Iraqi conflict will likely remain confined to north of the country also pulled oil prices lower. However, car bombings in
With some heavy fighting reported between rival groups near
Meanwhile, investors continued to tread cautiously ahead of a slew of economic data and Fed comments due later this week.
Light Sweet Crude Oil futures for August delivery, the most actively traded contract, edged up
Crude prices for August delivery scaled a high of
On Friday, crude oil plummeted to end at a more than two-month low on waning concerns over supply disruptions from the
The dollar index, which tracks the US unit against six major currencies, traded at 80.20 on Monday, up from its previous close of 80.19 late Friday in North American trade. The dollar scaled a high of 80.25 intraday and a low of 80.08.
The euro traded higher against the dollar at
In economic news from eurozone, data from Eurostat showed eurozone industrial production to have declined 1.1% month-on-month in May, reversing the 0.7% rise in April. Economists expected output to drop 1.2%.
During the week, investors will be digesting a slew of economic reports including the data on consumer sentiment, retail sales, manufacturing sector activity and housing market, besides the weekly report on jobless claims.
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