Crude Oil Edges Lower As Investors Assess Easing Supply Concerns

Iraq's resumption of oil production drove mixed crude price action: futures slid intraday but later rebounded as markets digested the news. Profit-taking after yesterday's surge capped the upside, leaving near-term direction uncertain for oil market participants.

Analysis

Iraq's resumption of oil production drove mixed crude price action: futures slid intraday but later rebounded as markets digested the news. Profit-taking after yesterday's surge capped the upside, leaving near-term direction uncertain for oil market participants.