{"id":10569,"date":"2010-04-12T08:17:09","date_gmt":"2010-04-12T06:17:09","guid":{"rendered":"http:\/\/bontrade.org\/blog49\/10569\/oil-prices-start-week-trading-around-85-on-weak-us-dollar\/"},"modified":"2010-04-12T08:17:09","modified_gmt":"2010-04-12T06:17:09","slug":"oil-prices-start-week-trading-around-85-on-weak-us-dollar","status":"publish","type":"post","link":"https:\/\/bontrade.org\/blog49\/10569\/oil-prices-start-week-trading-around-85-on-weak-us-dollar\/","title":{"rendered":"Oil prices start week trading around $85 on weak US dollar"},"content":{"rendered":"

Oil prices started the weeks trading around $85 a barrel amid a weaker US dollar, as the dollar index fell over one percent, the most since July 2009. US Light crude oil futures rose to $85.22 a barrel, after having risen by as much as 79 cents, while London Brent crude oil futures are currently at $85.29. “The weaker US dollar and positive Chinese trade data are the two main supporting factors,” said David Moore, an analyst at the Commonwealth Bank of Australia. “If oil markets continue to take cues from supply and demand, in preference to the dollar, equities or economic data, we cannot paint a picture that includes higher prices,” Cameron Hanover said in a report. “The surge in crude prices over the past week has pushed crude out of its one month range and within reach of USD 90 a barrel, but to reach that goal, the market has to fret more about OPEC than a barrage of negative fundamentals,” said Lawrence Eagles, an analyst at JP Morgan in New York. With all these developments, Eagles said investors should stay long on crude oil futures and buy on dips. Oil prices trading range at $80 mark on US Dollar Index Oil prices trading steady, eyes on US dollar index Light oil price trading up as US dollar takes a knock Crude oil prices hit 2010 trading high on falling US dollar Oil prices trading higher on Monday amid weaker US dollar Oil prices trading down two percent on stronger US dollar Crude oil prices trading lower on stronger US dollar Oil prices trading steady around $80, stronger US dollar Oil prices trading down two percent on stronger US dollar Light oil prices trading around $74, eyes on US Dollar Crude oil prices trading higher, eyes on US Dollar Index Oil prices trading up 3 percent on a falling US dollar Oil prices trading lower as US dollar makes gains Brent oil trading below $80, US dollar holding down prices Oil prices targeting $85 mark as OPEC meets, dollar falls Crude oil prices trading under $81 eyes on Fed, US dollar Light oil prices end the week well above $80 trading range 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 <\/p>\n

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\nOil prices start week trading around $85 on weak US dollar<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Oil prices started the weeks trading around $85 a barrel amid a weaker US dollar, as the dollar index fell over one percent, the most since July 2009. US Light crude oil futures rose to $85.22 a barrel, after having risen by as much as 79 cents, while London Brent crude oil futures are currently at $85.29. “The weaker US dollar and positive Chinese trade data are the two main supporting factors,” said David Moore, an analyst at the Commonwealth Bank of Australia. “If oil markets continue to take cues from supply and demand, in preference to the dollar, equities or economic data, we cannot paint a picture that includes higher prices,” Cameron Hanover said in a report. “The surge in crude prices over the past week has pushed crude out of its one month range and within reach of USD 90 a barrel, but to reach that goal, the market has to fret more about OPEC than a barrage of negative fundamentals,” said Lawrence Eagles, an analyst at JP Morgan in New York. With all these developments, Eagles said investors should stay long on crude oil futures and buy on dips. Oil prices trading range at $80 mark on US Dollar Index Oil prices trading steady, eyes on US dollar index Light oil price trading up as US dollar takes a knock Crude oil prices hit 2010 trading high on falling US dollar Oil prices trading higher on Monday amid weaker US dollar Oil prices trading down two percent on stronger US dollar Crude oil prices trading lower on stronger US dollar Oil prices trading steady around $80, stronger US dollar Oil prices trading down two percent on stronger US dollar Light oil prices trading around $74, eyes on US Dollar Crude oil prices trading higher, eyes on US Dollar Index Oil prices trading up 3 percent on a falling US dollar Oil prices trading lower as US dollar makes gains Brent oil trading below $80, US dollar holding down prices Oil prices targeting $85 mark as OPEC meets, dollar falls Crude oil prices trading under $81 eyes on Fed, US dollar Light oil prices end the week well above $80 trading range 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 <\/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-10569","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\/10569","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=10569"}],"version-history":[{"count":0,"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/posts\/10569\/revisions"}],"wp:attachment":[{"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/media?parent=10569"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/categories?post=10569"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/tags?post=10569"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}