Oil Pares Weekly Advance as Technical Traders Eye $60 Threshold
Mike Drevenak returns the gas nozzle after filling his van at a station in Raleigh, North Carolina, U.S., on Wednesday, July 9, 2008. Crude oil was little changed after a U.S. Energy Department report showed that an inventory drop occurred mostly on the West Coast, where the distribution system is isolated from the rest of the country. Photographer: Jim R. Bounds/Bloomberg News

Oil Pares Weekly Advance as Technical Traders Eye $60 Threshold

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(Bloomberg) -- Oil erased almost an entire week of advances as chart-watching traders tested a key price barrier.
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