Oil falls below $70 after near $4 jump

U.S. crude futures fell 67 cents to $69.94 a barrel by 1030 GMT (6:30 a.m. EDT), after rising nearly $4 on Wednesday.

London Brent crude shed 63 cents to $68.44 a barrel.

A surprise drop in U.S. gasoline stocks triggered the price rally on Wednesday that enabled crude to squeeze out a slight gain for the third quarter in a move which boosted commodity indexes overall.


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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza