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Crude futures climb past $74 per barrel
By Myra P. Saefong
Last Update: 10:37 AM ET Jul 16, 2007
SAN FRANCISCO (MarketWatch) -- August crude climbed 9 cents to $74.02 a barrel Monday morning, after touching a high of $74.10. That was the highest level for the contract since Sept. 1, 2006. The $75 level "seems to be a key resistance level that the market should find its next fight at, although I do believe you'll see the market trading through $80 within the next two months," said Zachary Oxman, a senior trader at Wisdom Financial. August natural gas dropped 4.4% to $6.37 per million British thermal units with ample U.S. supplies and a lack of any threat to them putting pressure on prices.
Futures and options trading involve substantial risk.
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