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CME Group says no technical issues in crude oil sell-off
September 17, 2012 / 6:57 PM / 5 years ago

CME Group says no technical issues in crude oil sell-off

NEW YORK, Sept 17 (Reuters) - CME Group Inc, the parent company of the New York Mercantile Exchange, was not immediately aware of any technical issues that might have triggered a sharp sell-off in U.S. crude oil futures on Monday afternoon, a CME spokesman said.

The entire crude complex on CME Globex including crude oil, RBOB, gasoline and heating oil, “saw a coordinated sell-off of a prolonged duration of 30-minutes” from around 1:50 p.m. EDT (1750 GMT) to around 2:20 p.m. EDT on Monday, the spokesman said.

NYMEX crude oil futures suddenly began to fall around $4 per barrel during mid-afternoon trading to a low of $94.65, after trading at a session high of $99.52.

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