{"id":12162,"date":"2010-09-22T10:20:33","date_gmt":"2010-09-22T08:20:33","guid":{"rendered":"http:\/\/bontrade.org\/blog49\/12162\/wti-oil-price-trading-over-75-on-weaker-us-dollar\/"},"modified":"2010-09-22T10:20:33","modified_gmt":"2010-09-22T08:20:33","slug":"wti-oil-price-trading-over-75-on-weaker-us-dollar","status":"publish","type":"post","link":"https:\/\/bontrade.org\/blog49\/12162\/wti-oil-price-trading-over-75-on-weaker-us-dollar\/","title":{"rendered":"WTI oil price trading over $75 on weaker US dollar"},"content":{"rendered":"

WTI oil prices are trading over the $75 mark on Wednesday as the US dollar looks weaker, helping commodities including oil futures and gold to rise.<\/p>\n

US Light crude oil futures for November 2010 delivery was trading at $75.22 a barrel, 09.00 GMT on the NYMEX, the October contract expired yesterday.<\/p>\n

Upside to WTI Oil Futures at $76 a Barrel?<\/strong><\/p>\n

“If the oil market continues to go up, then the upside will be limited around $76 as inventories remain pretty high and we are yet to see a strong rebound in the global economy.” said Ken Hasegawa, an analyst at Newedge Japan.<\/p>\n

US Dollar Index Nears 80<\/strong><\/p>\n

The ICE Dollar Index, which tracks the performance of the US dollar versus a basket of six other major currencies, fell 0.5 percent to 80.016, its lowest since the middle of March 2010.<\/p>\n

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