{"id":11223,"date":"2010-06-22T08:22:03","date_gmt":"2010-06-22T06:22:03","guid":{"rendered":"http:\/\/bontrade.org\/blog49\/11223\/wti-oil-price-trading-above-78-eyes-on-dollar-index\/"},"modified":"2010-06-22T08:22:03","modified_gmt":"2010-06-22T06:22:03","slug":"wti-oil-price-trading-above-78-eyes-on-dollar-index","status":"publish","type":"post","link":"https:\/\/bontrade.org\/blog49\/11223\/wti-oil-price-trading-above-78-eyes-on-dollar-index\/","title":{"rendered":"WTI oil price trading above $78, eyes on Dollar Index"},"content":{"rendered":"

WTI oil prices are trading above $78 a barrel on Tuesday as the Dollar Index moved higher against most other currencies. US Light crude oil futures were at $78.61 a barrel midday Tuesday Singapore time on the NYMEX. The Dollar Index, which tracks the US currency against those of six major trading partners, rose 0.3 percent to 85.991 at 5pm in New York. The dollar appreciated 0.6 percent to $1.2312 per Euro, from $1.2388 on June 18th. \u201cThe rise today is based on the revaluation of the yuan,\u201d said Adam Sieminski, chief energy economist at Deutsche Bank AG in Washington. \u201cA prospect of a stronger Yuan and a weaker US dollar is giving most markets a boost.\u201d \u201cThe impact of cheaper oil for Chinese consumers and the stimulus for imports is what is pushing prices up,\u201d said Christopher Bellew, senior broker at Bache Commodities Ltd. in London. Oil volume in electronic trading on the NYMEX was 473,560 contracts as of 3:17 p.m. in New York. Volume totaled 459,249 contracts June 18th 2010, 41 percent below the average of the past three months, with open interest at 1.28 million contracts, the lowest level since March 1st 2010. Euro in Greek tailspin, US dollar firms & oil prices holding out WTI oil price trading higher on US dollar & supply data Oil prices open trading around $72 mark, US dollar gains Oil prices start week trading around $85 on weak US dollar Light oil price trading up as US dollar takes a knock Oil prices trading range at $80 mark on US Dollar Index Oil prices trading steady, eyes on US dollar index WTI oil price jumps higher in a mixed trading week Crude oil prices fall four percent on gloomy US jobs data WTI oil price trading down 3 percent on firm US dollar Index Brent oil price sinks under $72 as the Euro looses ground Oil prices trading back near $75 amid ongoing Euro concerns WTI oil price skids under $70 as US dollar firms up WTI oil price at $69 mark on strong dollar, high stocks Light oil prices at $83 in early trading, US dollar dips 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 <\/p>\n

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\nWTI oil price trading above $78, eyes on Dollar Index<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

WTI oil prices are trading above $78 a barrel on Tuesday as the Dollar Index moved higher against most other currencies. US Light crude oil futures were at $78.61 a barrel midday Tuesday Singapore time on the NYMEX. The Dollar Index, which tracks the US currency against those of six major trading partners, rose 0.3 percent to 85.991 at 5pm in New York. The dollar appreciated 0.6 percent to $1.2312 per Euro, from $1.2388 on June 18th. \u201cThe rise today is based on the revaluation of the yuan,\u201d said Adam Sieminski, chief energy economist at Deutsche Bank AG in Washington. \u201cA prospect of a stronger Yuan and a weaker US dollar is giving most markets a boost.\u201d \u201cThe impact of cheaper oil for Chinese consumers and the stimulus for imports is what is pushing prices up,\u201d said Christopher Bellew, senior broker at Bache Commodities Ltd. in London. Oil volume in electronic trading on the NYMEX was 473,560 contracts as of 3:17 p.m. in New York. Volume totaled 459,249 contracts June 18th 2010, 41 percent below the average of the past three months, with open interest at 1.28 million contracts, the lowest level since March 1st 2010. Euro in Greek tailspin, US dollar firms & oil prices holding out WTI oil price trading higher on US dollar & supply data Oil prices open trading around $72 mark, US dollar gains Oil prices start week trading around $85 on weak US dollar Light oil price trading up as US dollar takes a knock Oil prices trading range at $80 mark on US Dollar Index Oil prices trading steady, eyes on US dollar index WTI oil price jumps higher in a mixed trading week Crude oil prices fall four percent on gloomy US jobs data WTI oil price trading down 3 percent on firm US dollar Index Brent oil price sinks under $72 as the Euro looses ground Oil prices trading back near $75 amid ongoing Euro concerns WTI oil price skids under $70 as US dollar firms up WTI oil price at $69 mark on strong dollar, high stocks Light oil prices at $83 in early trading, US dollar dips 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 <\/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-11223","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\/11223","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=11223"}],"version-history":[{"count":0,"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/posts\/11223\/revisions"}],"wp:attachment":[{"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/media?parent=11223"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/categories?post=11223"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/tags?post=11223"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}