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The Commodities Corner
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Oil Off Its Highs, However Fundamentals Remain Bullish
Fri, May 30 2008, 20:59 GMT
by Andrei Pehar
Both the US Dollar and the Dow showed remarkable resilience despite more scary figures out this week from the oil sector. Besides setting a new high above $136 last week, yesterday's inventory numbers showed yet another drop, this time by 8.8 million barrels (the previous month saw a decline of 5.4 million).
The GDP price index held steady at 2.6% for the quarter, meanwhile the
preliminary GDP for the same period rose to 0.9%, up from 0.6% the prior
quarter. While many signs still point to a poor rate of growth for the
overall US
economy this year, there are also indications that the concern may slowly begin
to shift from recession to inflation, as we've already seen in other parts of the world.
Published on Fri, May 30 2008, 21:07 GMT
Archive
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Published On Thu, Nov 20 2008, 01:43 GMT - The Long-term Outlook for Gold
Published On Wed, Oct 15 2008, 16:04 GMT - How to Determine the Next Likely Direction for Oil
Published On Fri, Sep 26 2008, 12:05 GMT - What a Financial Crisis Means for Gold
Published On Fri, Sep 19 2008, 11:01 GMT - Gold & Silver Both Hit Projected Targets
Published On Fri, Sep 12 2008, 21:22 GMT
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