{"id":12157,"date":"2010-09-24T09:06:55","date_gmt":"2010-09-24T07:06:55","guid":{"rendered":"http:\/\/bontrade.org\/blog49\/12157\/wti-oil-price-trading-at-75-mark-on-lower-stock-markets\/"},"modified":"2010-09-24T09:06:55","modified_gmt":"2010-09-24T07:06:55","slug":"wti-oil-price-trading-at-75-mark-on-lower-stock-markets","status":"publish","type":"post","link":"https:\/\/bontrade.org\/blog49\/12157\/wti-oil-price-trading-at-75-mark-on-lower-stock-markets\/","title":{"rendered":"WTI oil price trading at $75 mark on lower stock markets"},"content":{"rendered":"

WTI oil futures open trading on Friday lower with prices around the $75 mark as Asian stock markets head lower after European and US markets finished down on Thursday.<\/p>\n

US Light crude oil futures for November 2010 delivery was trading at $74.81, 08.00 GMT on the NYMEX after closing at $74.85 yesterday.<\/p>\n

Oil prices were also under pressure overnight from weak data after a report that US jobless claims increased faster than analysts had expected. Initial claims for jobless aid rose by 12,000 last week to a seasonally adjusted 465,000, the first increase in five weeks, the US Labor Department said on Thursday.<\/p>\n

“Oil prices are being buffeted by the offsetting influences of bearish oil balances and supportive economic releases that have proven sufficiently favorable.” Ritterbusch and Associates said in a report.<\/p>\n

US Dollar Claws Back some Ground<\/strong><\/p>\n

The US dollar clawed back some lost ground yesterday which would also have a negative effect oo WTI oil prices. The ICE Dollar Index closed 0.36% higher at 80.118 levels.<\/p>\n

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