WTI oil trading over $81 on US crude oil inventory drop<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" WTI oil futures are back over $81 a barrel in early trading today as the weekly US crude oil inventory report showed a drop in US crude oil and petrol stockpiles, pushing oil markets higher. Latest WTI Oil Price US Light crude oil futures for January 2011 delivery was trading at $81.47 a barrel, 07.45 GMT on the NYMEX, after closing yesterday’s trading session at $80.42. US Crude Oil Inventories see Big Drop US crude oil inventories fell by 7.3 million barrels in the week to 12th November, the US Department of Energy revealed yesterday, the biggest weekly drop for 15 months and much weaker than the 100,000 barrel decline expected by the market. Petrol reserves also fell by 2.7 million barrels, analysts had predicted a smaller drop of only 600,000 barrels. However, US refiners tend to cut inventories towards the end of each year to save on taxes, which may explain part of the declines. US Dollar, Markets Driving Oil Prices The value of the US dollar and stock market movements continue to be the main driver of oil prices for the moment. The dollar was weaker overnight after the release of data showing US weak consumer data and home purchases plunged to a near record low last month. Without signs that the US economy is on the road to a more rapid recovery, there is weakness in the dollar in currency trading. WTI oil trading at $82, down 3 percent on weak markets WTI oil futures trading near $86, eyes on US dollar WTI oil trading near $87, hovering at 2010 highs WTI oil trading nearer $83, eyes on Ireland debt talks WTI crude oil price trades at $83 on weaker US dollar WTI oil holds gains near $81 amid lower stock markets WTI oil trading higher on surprise US inventory drop WTI oil futures trading up on higher markets in Asia WTI oil trading over $75, US hurricanes add strength WTI oil price trading at $81 as investors turn bullish WTI oil price trading firm at $82 ahead of US jobs data WTI oil trading over $73 as stock markets lift oil prices WTI oil trading at $81 remains volatile, US dollar gains WTI oil futures end under $82, a bullish end to 2010? Brent oil price trading near $86 as dollar holds ground WTI oil trading at $85 as ICE Dollar Index holding gains WTI oil trading firm over $84 on weak US Dollar Index Brent oil price trading at six month high near $86 WTI oil price trading nearer $82 on weaker US dollar WTI oil price firm over $82 on falling US oil supplies <\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lightning_design_setting":[],"footnotes":""},"categories":[1],"tags":[],"class_list":["post-12593","post","type-post","status-publish","format-standard","hentry","category-welcome-start-here-tradecrudeoilchatroom"],"_links":{"self":[{"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/posts\/12593","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/comments?post=12593"}],"version-history":[{"count":0,"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/posts\/12593\/revisions"}],"wp:attachment":[{"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/media?parent=12593"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/categories?post=12593"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/tags?post=12593"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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