Light oil price hovers at $80, uncertain trading week ahead

US Light crude oil price fell more than half a percent to just above $80 in trading on Monday, having slumped almost 2% in the previous session amid an uncertain week lying ahead. Light crude oil futures for April delivery fell 47 cents to $80.21 a barrel on the NYMEX, its third consecutive fall. The US Dollar and Japanese Yen advanced on safety demand against most major currencies as Asian stocks fell by the most in month after the IMF’s deputy managing director said advanced economies’ debt to hit the highest in over 60 years. Currency markets were unmoved this morning as the US House of Representatives narrowly passed legislation to overhaul America’s health care system, however many investors are betting that the US stock market will suffer this week as a result of the legislation being passed. And, as the financial crisis still persisting in some pockets of global economy, there could be some hiccups in the system that might hamper the recovery process. At the EU member summit this week should provide some insight into whether Greece will get financial aid or not, until then, the commodity markets will remain volatile. Light oil price trading lower on a stronger US dollar Brent oil price trading above $80 on weaker US dollar Light oil price trading back over $80 on buying activity Light oil price gains in trading, hovers around $75 US Light oil price is trading back above $81 a barrel Oil prices above $82 as traders look to US supplies, OPEC Brent oil price trading near $81 on weaker US dollar Light oil price trading below $80 mark on higher US dollar Crude oil prices trading under $81 eyes on Fed, US dollar Light oil prices end the week well above $80 trading range Brent oil price near $80 mark, OPEC oil shipments down Oil prices trading steady, awaits US crude inventory data Brent oil price trading back over $78 on higher markets Light oil price trading back near $80 on weaker US dollar US Light oil price trading lower on US jobs, dollar Oil prices trading down two percent on latest US jobs data US Light oil price trading at $80, looks to oil demand stats Light oil price trading back over $80, eyes on US dollar Brent oil price trading near $80 mark on weaker dollar Light oil price back under $78 in early trading

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Light oil price hovers at $80, uncertain trading week ahead