{"id":12299,"date":"2010-10-12T08:56:27","date_gmt":"2010-10-12T06:56:27","guid":{"rendered":"http:\/\/bontrade.org\/blog49\/12299\/wti-oil-price-skids-under-82-on-stronger-us-dollar\/"},"modified":"2010-10-12T08:56:27","modified_gmt":"2010-10-12T06:56:27","slug":"wti-oil-price-skids-under-82-on-stronger-us-dollar","status":"publish","type":"post","link":"https:\/\/bontrade.org\/blog49\/12299\/wti-oil-price-skids-under-82-on-stronger-us-dollar\/","title":{"rendered":"WTI oil price skids under $82 on stronger US dollar"},"content":{"rendered":"

WTI oil futures open Tuesday’s trading session back under $82 a barrel as a stronger US dollar and lower stock markets in Asia cap oil’s recent gains.<\/p>\n

US Light crude oil futures for November 2010 delivery was trading at $81.40 a barrel, 07.45 GMT this morning on the NYMEX. The contract lost 45 cents to settle at $82.21 on Monday.<\/p>\n

The ICE Dollar Index was up 0.10 percent at 77.520, however still close to its lowest in nearly nine months.<\/p>\n

“The upsurge from $74 to $83 was on the back of an upsurge in the stock markets, but with equities staying flat, oil has lost its fizzle. The price of oil could easily fall back below $80 a barrel.” said Mike Sander, investment adviser at Sander Capital Advisors.<\/p>\n

Oil prices continue on the downside for a second day running as a short term rebound in the dollar works against US dollar denominated commodities including oil, however gold and silver prices continue to show strength.<\/p>\n

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