{"id":12596,"date":"2010-11-06T07:54:21","date_gmt":"2010-11-06T06:54:21","guid":{"rendered":"http:\/\/bontrade.org\/blog49\/12596\/brent-oil-price-finishes-week-six-percent-higher-over-88\/"},"modified":"2010-11-06T07:54:21","modified_gmt":"2010-11-06T06:54:21","slug":"brent-oil-price-finishes-week-six-percent-higher-over-88","status":"publish","type":"post","link":"https:\/\/bontrade.org\/blog49\/12596\/brent-oil-price-finishes-week-six-percent-higher-over-88\/","title":{"rendered":"Brent oil price finishes week six percent higher, over $88"},"content":{"rendered":"

Brent oil prices end Friday’s trading session firm over $88 a barrel, a clear six percent higher than last week’s closing price as the ICE Dollar Index sank to a new 2010 low and has now lost nearly 15 percent of value in the last 5 months. Brent Oil – Closing Price Brent crude oil futures for December 2010 delivery ended the week at $88.50 a barrel on the ICE Futures Exchange, over $6 higher than last week\u2019s close of $83.10 a barrel. Meanwhile, the ICE Dollar Index, which tracks the US dollar against six major world currenices ended the week at 76.588. Global Oil Demand – OPEC Forecasts Global oil demand has grown to one million barrels per day in 2010, increasing by an amount more than double previous forecasts. Recent OPEC member countries predict rising global oil demand over the next 20 years, while acknowledging the potential impact of environmental policies on the energy market. “Over the period 2009 to 2030, consumption in developing countries increases by more than 22 million barrels per day. Of the total global oil demand growth in the long term, 75 percent is in developing Asia”. OPEC said in its 2010 World Oil Outlook. By 2030, OPEC forecast that global oil demand will reach 105.5 million barrels per day. Brent oil prices were also boosted this week when Ali al-Naimi, the Saudi Arabian oil minister, predicted oil prices of $70 to $90 rather than his previous estimate of $70 to $80. Brent oil price firm over $84 as ICE Dollar Index falls Brent oil price slips under $88 on higher ICE Dollar Index Brent oil trading firm near $88 amid higher Dollar Index Brent oil trading over $88, ICE Dollar Index at 2010 lows Brent oil price over $85 as US Dollar Index gets hammered Brent oil trading firm at $78 as ICE Dollar Index falls Brent oil price at $79 helped by falling ICE Dollar Index Brent oil price ends week at $84 on Ireland debt, US dollar Brent oil price trading firm over $85 on weaker US dollar Brent oil price opens under $87 on Euro & China concerns Brent oil price ends week at $83, ICE Dollar Index slumps WTI oil price ends week at $81 amid weaker US dollar Brent oil price firm at $84, eyes on Fed and US dollar Brent oil price nears $85 on weaker US Dollar Index Brent oil price closes week up 6 percent near $84 mark Brent oil price at $79 as US Dollar Index trading lower Brent oil price trades over $79 as the US dollar weakens Brent oil price closes week’s trading over the $78 mark Brent oil price trading near $81, awaits US Fed meeting Brent oil price surges ahead looks to Asian oil demand <\/p>\n

View original here:
\nBrent oil price finishes week six percent higher, over $88<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Brent oil prices end Friday’s trading session firm over $88 a barrel, a clear six percent higher than last week’s closing price as the ICE Dollar Index sank to a new 2010 low and has now lost nearly 15 percent of value in the last 5 months. Brent Oil – Closing Price Brent crude oil futures for December 2010 delivery ended the week at $88.50 a barrel on the ICE Futures Exchange, over $6 higher than last week\u2019s close of $83.10 a barrel. Meanwhile, the ICE Dollar Index, which tracks the US dollar against six major world currenices ended the week at 76.588. Global Oil Demand – OPEC Forecasts Global oil demand has grown to one million barrels per day in 2010, increasing by an amount more than double previous forecasts. Recent OPEC member countries predict rising global oil demand over the next 20 years, while acknowledging the potential impact of environmental policies on the energy market. “Over the period 2009 to 2030, consumption in developing countries increases by more than 22 million barrels per day. Of the total global oil demand growth in the long term, 75 percent is in developing Asia”. OPEC said in its 2010 World Oil Outlook. By 2030, OPEC forecast that global oil demand will reach 105.5 million barrels per day. Brent oil prices were also boosted this week when Ali al-Naimi, the Saudi Arabian oil minister, predicted oil prices of $70 to $90 rather than his previous estimate of $70 to $80. Brent oil price firm over $84 as ICE Dollar Index falls Brent oil price slips under $88 on higher ICE Dollar Index Brent oil trading firm near $88 amid higher Dollar Index Brent oil trading over $88, ICE Dollar Index at 2010 lows Brent oil price over $85 as US Dollar Index gets hammered Brent oil trading firm at $78 as ICE Dollar Index falls Brent oil price at $79 helped by falling ICE Dollar Index Brent oil price ends week at $84 on Ireland debt, US dollar Brent oil price trading firm over $85 on weaker US dollar Brent oil price opens under $87 on Euro & China concerns Brent oil price ends week at $83, ICE Dollar Index slumps WTI oil price ends week at $81 amid weaker US dollar Brent oil price firm at $84, eyes on Fed and US dollar Brent oil price nears $85 on weaker US Dollar Index Brent oil price closes week up 6 percent near $84 mark Brent oil price at $79 as US Dollar Index trading lower Brent oil price trades over $79 as the US dollar weakens Brent oil price closes week’s trading over the $78 mark Brent oil price trading near $81, awaits US Fed meeting Brent oil price surges ahead looks to Asian oil demand <\/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-12596","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\/12596","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=12596"}],"version-history":[{"count":0,"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/posts\/12596\/revisions"}],"wp:attachment":[{"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/media?parent=12596"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/categories?post=12596"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/tags?post=12596"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}