{"id":10752,"date":"2010-05-04T08:50:29","date_gmt":"2010-05-04T06:50:29","guid":{"rendered":"http:\/\/bontrade.org\/blog49\/10752\/light-oil-price-holds-at-86-awaits-latest-us-oil-stock-data\/"},"modified":"2010-05-04T08:50:29","modified_gmt":"2010-05-04T06:50:29","slug":"light-oil-price-holds-at-86-awaits-latest-us-oil-stock-data","status":"publish","type":"post","link":"https:\/\/bontrade.org\/blog49\/10752\/light-oil-price-holds-at-86-awaits-latest-us-oil-stock-data\/","title":{"rendered":"Light oil price holds at $86, awaits latest US oil stock data"},"content":{"rendered":"

Light oil prices are holding around the $86 mark in trading on Tuesday as investors await the latest US crude oil stock data from a government report due out on Wednesday.<\/p>\n

Light crude oil futures for June 2010 delivery was at $85.93 a barrel at midday Singapore time on the NYMEX. Yesterday, Light oil prices reach $87.15 in busy trading, befor dropping back slightly.<\/p>\n

\u201cThe previous high was $87.09 and after that the market just dropped and we saw the same thing when the market went up to $87.15 (Monday) before going back down.\u201d said Clarence Chu, a Singapore-based oil trader with Hudson Capital Energy.<\/p>\n

“Throughout this move higher, signs that the world economy is recovering have trumped everything else,” Cameron Hanover said in a report. “The economy has so far ignored signs that higher oil prices are making it that much harder for the recovery to maintain its pace.”<\/p>\n

\n
\"Digg<\/a><\/div>\n
\"Reddit<\/a><\/div>\n
\"Stumble<\/a><\/div>\n
\"Buzz<\/a><\/div>\n
\"Vote<\/a><\/div>\n
\"Share<\/a><\/div>\n
\"Bookmark<\/a><\/div>\n
\"Kick<\/a><\/div>\n
\"Shout<\/a><\/div>\n
\"Share<\/a><\/div>\n
\"Bookmark<\/a><\/div>\n
\"Post<\/a><\/div>\n
\"Google<\/a><\/div>\n<\/div>\n