{"id":11418,"date":"2010-07-12T19:04:39","date_gmt":"2010-07-12T17:04:39","guid":{"rendered":"http:\/\/bontrade.org\/blog49\/11418\/wti-oil-price-trading-back-near-75-us-dollar-makes-gains\/"},"modified":"2010-07-12T19:04:39","modified_gmt":"2010-07-12T17:04:39","slug":"wti-oil-price-trading-back-near-75-us-dollar-makes-gains","status":"publish","type":"post","link":"https:\/\/bontrade.org\/blog49\/11418\/wti-oil-price-trading-back-near-75-us-dollar-makes-gains\/","title":{"rendered":"WTI oil price trading back near $75, US dollar makes gains"},"content":{"rendered":"

WTI oil prices lost some ground in afternoon trading today, hovering near $75 as the US Dow Jones opened mixed and the US dollar made gains against other currencies.<\/p>\n

US Light crude oil futures for August 2010 delivery was at $75.15 a barrel 18.00 GMT on the NYMEX.<\/p>\n

The dollar firmed broadly as caution returned ahead of a busy US calendar as corporate earnings season gets under way this week.<\/p>\n

The ICE Dollar index, which tracks the US dollar against a trade weighted basket of currencies, was up at 84.324 from 83.914.<\/p>\n

Oil and other commodities are priced in US dollars, hence a stronger dollar makes them more expensive for foreign buyers of crude oil futures.<\/p>\n

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