{"id":10915,"date":"2010-05-24T08:10:05","date_gmt":"2010-05-24T06:10:05","guid":{"rendered":"http:\/\/bontrade.org\/blog49\/10915\/oil-prices-trading-at-71-mark-following-stock-markets\/"},"modified":"2010-05-24T08:10:05","modified_gmt":"2010-05-24T06:10:05","slug":"oil-prices-trading-at-71-mark-following-stock-markets","status":"publish","type":"post","link":"https:\/\/bontrade.org\/blog49\/10915\/oil-prices-trading-at-71-mark-following-stock-markets\/","title":{"rendered":"Oil prices trading at $71 mark, following stock markets"},"content":{"rendered":"

Crude oil prices rose to near $71 a barrel in early trading on Monday as recovering stock markets bolstered the confidence of crude traders. US Light crude oil futures rose to $70.69 a barrel at 12:30pm Singapore time on the NYMEX, while in London, Brent crude oil futures for July settlement rose to $71.95 a barrel on the ICE Futures Exchange. “There has been a significant decline in oil prices over the past couple of weeks so there might be some traders who think that oil has been oversold and are looking to buy in at these levels,” said Toby Hassall, chief commodities analyst at CWA Global Markets Pty Ltd. “Oil could remain as the casualty of negative sentiments in the short term, but it should rebound when the panic subsides because we’re still seeing strong growth in Asia and the U.S. economy is also slowly recovering.” \u201cYou\u2019re seeing a good, fast response back into the equity markets,\u201d said David Land, chief market analyst at CMC Markets Ltd. in Sydney. \u201cIf there is renewed expectation that we\u2019ll see a cooling in the situation in Europe, that will translate into a bit of upside for the oil price.\u201d Crude oil prices gain as traders eye global stock markets Oil prices trading near $70 as global stock markets slump Oil prices dropping off a cliff with stock markets in tow Oil prices trading near $85, global stock markets higher Oil prices trading negative on profit taking, stock markets Oil prices back at $70 range after 20 percent May losses Brent oil trading at $71 as commodities & markets wacked Why are oil prices so high? Oil is as good as gold! Oil prices again being lead by dollar and euro swings Oil prices back in $85 to $90 trading range, in mixed week Oil prices start the week trading higher on US data US Light oil trading higher, near $82 on Goldman, markets Crude oil prices hit 2010 trading high on falling US dollar Oil prices trading up 3 percent on a falling US dollar Oil prices trading higher on Monday amid weaker US dollar Oil prices trading down two percent on stronger US dollar Oil prices above $82 as traders look to US supplies, OPEC Crude oil prices trading lower on stronger US dollar Light oil prices end the week well above $80 trading range Oil prices trading near 2010 highs on latest US jobs data <\/p>\n

View original post here:
\nOil prices trading at $71 mark, following stock markets<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Crude oil prices rose to near $71 a barrel in early trading on Monday as recovering stock markets bolstered the confidence of crude traders. US Light crude oil futures rose to $70.69 a barrel at 12:30pm Singapore time on the NYMEX, while in London, Brent crude oil futures for July settlement rose to $71.95 a barrel on the ICE Futures Exchange. “There has been a significant decline in oil prices over the past couple of weeks so there might be some traders who think that oil has been oversold and are looking to buy in at these levels,” said Toby Hassall, chief commodities analyst at CWA Global Markets Pty Ltd. “Oil could remain as the casualty of negative sentiments in the short term, but it should rebound when the panic subsides because we’re still seeing strong growth in Asia and the U.S. economy is also slowly recovering.” \u201cYou\u2019re seeing a good, fast response back into the equity markets,\u201d said David Land, chief market analyst at CMC Markets Ltd. in Sydney. \u201cIf there is renewed expectation that we\u2019ll see a cooling in the situation in Europe, that will translate into a bit of upside for the oil price.\u201d Crude oil prices gain as traders eye global stock markets Oil prices trading near $70 as global stock markets slump Oil prices dropping off a cliff with stock markets in tow Oil prices trading near $85, global stock markets higher Oil prices trading negative on profit taking, stock markets Oil prices back at $70 range after 20 percent May losses Brent oil trading at $71 as commodities & markets wacked Why are oil prices so high? Oil is as good as gold! Oil prices again being lead by dollar and euro swings Oil prices back in $85 to $90 trading range, in mixed week Oil prices start the week trading higher on US data US Light oil trading higher, near $82 on Goldman, markets Crude oil prices hit 2010 trading high on falling US dollar Oil prices trading up 3 percent on a falling US dollar Oil prices trading higher on Monday amid weaker US dollar Oil prices trading down two percent on stronger US dollar Oil prices above $82 as traders look to US supplies, OPEC Crude oil prices trading lower on stronger US dollar Light oil prices end the week well above $80 trading range Oil prices trading near 2010 highs 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":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-10915","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\/10915","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=10915"}],"version-history":[{"count":0,"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/posts\/10915\/revisions"}],"wp:attachment":[{"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/media?parent=10915"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/categories?post=10915"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/tags?post=10915"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}