•  
  • New York 14:09
  • London 19:09
  • Barcelona 20:09
  • Tokyo 03:09
  • Sydney 04:09

Daily Oil Prices

This report has been deactivated

Monthly Oil Prices

Sat, May 30 2009, 20:50 GMT
by Anna Coulling

Master The Markets  |  View company's profile


Daily Oil Prices
Crude oil prices hit over $66 a barrel on Friday, setting a fresh high for the year and confirming their biggest monthly gain in over 10 years.  July contract for Nymex WTI rose 92 cents and at one point touched $66.03 (up 29.8% this month).  WTI is on course for its best monthly performance since March 1999 when it gained 36.5%.  July ICE Brent rose 90 cents to $65.29.  The exuberance in daily oil prices is a heady mix of OPEC's optimism that oil demand should increase in Asia and help push oil prices towards towards $70-$75 a barrel by the end of year, and speculation which has entered the commodity market.  The speculation factor is something that some OPEC members do not welcome given the problems caused last year when oil prices hit $150 a barrel, although so far inflows are no where near last year's peak.  The rally in oil prices has happened in spite of the bearish fundamentals of poor demand, too much supply and capacity and overflowing inventories.  However, the main driver for oil prices is the US dollar, the more it weakens the more oil prices are likely to rise (check out the dollar index for the likely direction of the US Dollar).

Published on  Sat, May 30 2009, 20:54 GMT


Master The Markets | Monument House, 215 Marsh Road, Pinner, Middlesex HA5 5NE.
http://www.forex-trading-8.com/ | anna@trading-online-help.com

Archive


Legal disclaimer and risk disclosure

The information on my web sites and blogs are for your general education only. Trading involves high risk and prices and values of all financial investments and instruments can go down as well as up. All the charts are shown for education purposes only and the words buy or sell are only shown to illustrate a point. All analysis, examples and commentary are provided for educational purposes only, and are strictly on a non-advisory basis. I will not be held responsible for your trading or investing results after reading these sites sites and my trades are not solicitations to buy or sell. I will not be held liable for any loss, howsoever arising, caused by anyone's reliance on information obtained from these sites.
Vote:

2

7


Interested in forex trading? forex brokerage firms!


Forex Capital Markets, LLC (FXCM)
Contact the broker/FDM
Open a demo account
FOREX.com
Contact the broker/FDM
Open a demo account
CitiFX Pro
Contact the broker/FDM
Open a demo account		Forex Club Financial Company
Contact the broker/FDM
Open a demo account		Capital Market Services
Contact the broker/FDM
Open a demo account

GET CASH BACK FOR YOUR TRADES!   Learn more about the Pip Rebate Program

Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer.

Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.

Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. FXstreet.com has not verified the accuracy or basis-in-fact of any claim or statement made by any independent author: errors and Omissions may occur.

Any opinions, news, research, analyses, prices or other information contained on this website, by FXstreet.com, its employees, partners or contributors, is provided as general market commentary and does not constitute investment advice. FXstreet.com will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.

* GFT is a sponsor of FXstreet.com for advertisement purposes only. GFT does not endorse any other products, services, or companies represented on FXstreet.com. The views of FXstreet.com and all other parties contained therein are not necessarily those of GFT, and GFT makes no warranty as to the accuracy of information provided.

©2010 "FXstreet.com. The Forex Market" All Rights Reserved.