{"id":10345,"date":"2010-03-18T15:21:52","date_gmt":"2010-03-18T14:21:52","guid":{"rendered":"http:\/\/bontrade.org\/blog49\/10345\/oil-prices-trading-steady-eyes-on-us-dollar-index\/"},"modified":"2010-03-18T15:21:52","modified_gmt":"2010-03-18T14:21:52","slug":"oil-prices-trading-steady-eyes-on-us-dollar-index","status":"publish","type":"post","link":"https:\/\/bontrade.org\/blog49\/10345\/oil-prices-trading-steady-eyes-on-us-dollar-index\/","title":{"rendered":"Oil prices trading steady, eyes on US dollar index"},"content":{"rendered":"

Oil prices are trading a little lower, but steady on Thursday and oil futures are again tracking the US dollar index. Crude oil prices are relatively high at the moment because investors have been buying oil and other commodities because they expect the value of the US dollar to decline. US Light crude oil futures fell to $82.34 a barrel by 1225 GMT, having briefly slipped below US$82 on the NYMEX, while in London, Brent crude oil futures were trading lower at $81.34 on the ICE Futures Exchange. “Oil prices are high and rising” said Roger Diwan, a oil expert at PFC Energy, a Washington consulting firm. Oil and gas demand is expected to increase as economies recover and businesses hire more workers. “The big news is that the economies around the world have stabilised from their abyss a year ago,” Lipow said. He added that the energy demand outlook shows signs of hope given that the EIA, the IEA and OPEC have all bumped up their forecasts for the year. The dollar index which measures the US dollars unit against a basket of six major currencies, rose 0.3%. The US dollar strengthened especially against the euro, which fell 0.5% to $1.3661. A stronger dollar tends to pressure crude oil prices, making it more expensive for holders of other currencies and less attractive as a hedge against weaker currencies. Light oil prices trading around $74, eyes on US Dollar Crude oil prices trading lower on stronger US dollar Light oil prices end the week well above $80 trading range Oil prices trading steady around $80, stronger US dollar Oil prices trading down two percent on stronger US dollar Crude oil prices trading higher, eyes on US Dollar Index Oil prices targeting $85 mark as OPEC meets, dollar falls Crude oil prices trading under $81 eyes on Fed, US dollar Oil prices trading steady amid a weaker US dollar Oil prices trading near 2010 highs on latest US jobs data Oil prices trading steady after Thursday loss, eyes on dollar Oil prices trading down two percent on latest US jobs data Brent oil price hovers around $75, US dollar makes gains Brent oil price trading over $75, eyes on US dollar Brent oil price trading steady on higher US stocks data Oil prices & commodities trading higher, US dollar slides Oil prices trading higher amid stronger US Dollar, Europe Crude oil prices trading higher amid a stronger US dollar Oil prices trading lower after loosing two percent Monday Brent oil price trading around $76 on weaker US dollar <\/p>\n

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\nOil prices trading steady, eyes on US dollar index<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Oil prices are trading a little lower, but steady on Thursday and oil futures are again tracking the US dollar index. Crude oil prices are relatively high at the moment because investors have been buying oil and other commodities because they expect the value of the US dollar to decline. US Light crude oil futures fell to $82.34 a barrel by 1225 GMT, having briefly slipped below US$82 on the NYMEX, while in London, Brent crude oil futures were trading lower at $81.34 on the ICE Futures Exchange. “Oil prices are high and rising” said Roger Diwan, a oil expert at PFC Energy, a Washington consulting firm. Oil and gas demand is expected to increase as economies recover and businesses hire more workers. “The big news is that the economies around the world have stabilised from their abyss a year ago,” Lipow said. He added that the energy demand outlook shows signs of hope given that the EIA, the IEA and OPEC have all bumped up their forecasts for the year. The dollar index which measures the US dollars unit against a basket of six major currencies, rose 0.3%. The US dollar strengthened especially against the euro, which fell 0.5% to $1.3661. A stronger dollar tends to pressure crude oil prices, making it more expensive for holders of other currencies and less attractive as a hedge against weaker currencies. Light oil prices trading around $74, eyes on US Dollar Crude oil prices trading lower on stronger US dollar Light oil prices end the week well above $80 trading range Oil prices trading steady around $80, stronger US dollar Oil prices trading down two percent on stronger US dollar Crude oil prices trading higher, eyes on US Dollar Index Oil prices targeting $85 mark as OPEC meets, dollar falls Crude oil prices trading under $81 eyes on Fed, US dollar Oil prices trading steady amid a weaker US dollar Oil prices trading near 2010 highs on latest US jobs data Oil prices trading steady after Thursday loss, eyes on dollar Oil prices trading down two percent on latest US jobs data Brent oil price hovers around $75, US dollar makes gains Brent oil price trading over $75, eyes on US dollar Brent oil price trading steady on higher US stocks data Oil prices & commodities trading higher, US dollar slides Oil prices trading higher amid stronger US Dollar, Europe Crude oil prices trading higher amid a stronger US dollar Oil prices trading lower after loosing two percent Monday Brent oil price trading around $76 on weaker US dollar <\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lightning_design_setting":[],"footnotes":""},"categories":[1],"tags":[],"class_list":["post-10345","post","type-post","status-publish","format-standard","hentry","category-welcome-start-here-tradecrudeoilchatroom"],"_links":{"self":[{"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/posts\/10345","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/comments?post=10345"}],"version-history":[{"count":0,"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/posts\/10345\/revisions"}],"wp:attachment":[{"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/media?parent=10345"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/categories?post=10345"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/tags?post=10345"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}