{"id":12290,"date":"2010-10-09T10:04:41","date_gmt":"2010-10-09T08:04:41","guid":{"rendered":"http:\/\/bontrade.org\/blog49\/12290\/brent-oil-price-ends-week-firm-at-84-us-dollar-weakens\/"},"modified":"2010-10-09T10:04:41","modified_gmt":"2010-10-09T08:04:41","slug":"brent-oil-price-ends-week-firm-at-84-us-dollar-weakens","status":"publish","type":"post","link":"https:\/\/bontrade.org\/blog49\/12290\/brent-oil-price-ends-week-firm-at-84-us-dollar-weakens\/","title":{"rendered":"Brent oil price ends week firm at $84, US dollar weakens"},"content":{"rendered":"

Brent oil prices ended Friday’s trading session over $84 a barrel as continued US dollar weakness boosts commodities appeal for investors.<\/p>\n

In London, Brent crude oil futures for November 2010 delivery closed at $84.19 a barrel, up $0.41 on the closing price of $83.78 on Friday 1st October. The US Dollar Index fell back and closed at 77.29, the lowest level since January 18th 2010.<\/p>\n

OPEC Meets to Discuss Oil Prices, Supply<\/strong><\/p>\n

Traders were meanwhile looking ahead to next week’s meeting of OPEC member countries in Vienna on Thursday 14th October.<\/p>\n

“OPEC members will always have one eye on the rear view mirror. OPEC member countries will want to avoid a rapid increase in crude oil prices whilst the recovery is fragile as it might well tip the world’s economies back into recession.” said Rebecca Seabury, at British energy consultancy Inenco.<\/p>\n

Analysts expect no change in OPEC oil output as the cartel’s twelve member countries appear happy with current oil prices.<\/p>\n

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