{"id":10844,"date":"2010-05-14T09:15:05","date_gmt":"2010-05-14T07:15:05","guid":{"rendered":"http:\/\/bontrade.org\/blog49\/10844\/light-oil-price-trading-under-74-on-a-stronger-us-dollar\/"},"modified":"2010-05-14T09:15:05","modified_gmt":"2010-05-14T07:15:05","slug":"light-oil-price-trading-under-74-on-a-stronger-us-dollar","status":"publish","type":"post","link":"https:\/\/bontrade.org\/blog49\/10844\/light-oil-price-trading-under-74-on-a-stronger-us-dollar\/","title":{"rendered":"Light oil price trading under $74 on a stronger US dollar"},"content":{"rendered":"

Light oil prices fell in trading Friday morning as a stronger US dollar hits commodity prices including oil. On Friday, Light crude oil futures for June delivery was trading down 58 cents to $73.82 a barrel by 7:25am on the NYMEX.<\/p>\n

The euro steadied near 14 month lows against the dollar on Friday on concerns that rigorous fiscal tightening in Europe would dampen an already weak recovery.<\/p>\n

The battered euro was at $1.2545, up 0.1 percent from levels seen in New York on Thursday. The single currency is on the way to ending a volatile week in negative territory against the dollar after a massive $1 trillion emergency rescue package reached on Monday boosted it to near $1.31.<\/p>\n

Traders said euro buying has been coming in when the euro nears the $1.25 level in Asian trade, where players suspect some large option barriers are in place.<\/p>\n

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