WTI oil price ends week over $76, tracks stock markets

WTI oil prices ended the week trading over the $76 a dollar mark as stock markets closed a little higher in Europe and in the US. US Light crude oil futures for August delivery closed at $76.27 a barrel, which is a 5.5 percent climb on the previous weeks closing price. Stocks are oil’s “latest hangout buddies. The assumption is if the stock market is higher, it implies increased economic activity.” said Peter Beutel, president of trading advisory firm Cameron Hanover in Connecticut. “As long as we have the economy stable, not great, but stable, we are going to see higher oil prices,” said Carl Larry, president of Oil Outlooks and Opinions in Houston. But markets may be getting ahead of themselves, said Dennis Gartman, an economist and editor of the Gartman Letter in Suffolk, Va. “There’s an awful lot of crude oil around,” said Gartman. WTI oil price trading near $73, time to get long on oil? WTI oil price moves lower, awaits Tuesday’s US market open WTI oil price skids under $70 as US dollar firms up WTI oil price near $75 on Dow Jones, US oil supply drop WTI oil trading over $73 as stock markets lift oil prices WTI oil price up over $73 as the US dollar looses out WTI oil price back at $75, stock markets trading lower WTI oil price trading higher on US dollar & supply data WTI oil price rebounds near $75 on weaker US dollar WTI oil price trading down 3 percent on firm US dollar Index Oil prices trading up, eyes on currencies euro & dollar Brent oil price takes a hit in heavy trading, higher dollar Euro in Greek tailspin, US dollar firms & oil prices holding out Light oil price trading up as US dollar takes a knock Brent oil price trading over $81 mark, holiday week bounce Oil prices trading up 3 percent on a falling US dollar Oil prices trading range at $80 mark on US Dollar Index Oil prices & commodities trading higher, US dollar slides Oil prices trading higher amid stronger US Dollar, Europe WTI oil price heads back under $72 on latest US data

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WTI oil price ends week over $76, tracks stock markets