{"id":13266,"date":"2011-02-14T08:41:43","date_gmt":"2011-02-14T07:41:43","guid":{"rendered":"http:\/\/bontrade.org\/blog49\/13266\/wti-oil-trading-up-near-86-us-and-china-inflation-in-focus\/"},"modified":"2011-02-14T08:41:43","modified_gmt":"2011-02-14T07:41:43","slug":"wti-oil-trading-up-near-86-us-and-china-inflation-in-focus","status":"publish","type":"post","link":"https:\/\/bontrade.org\/blog49\/13266\/wti-oil-trading-up-near-86-us-and-china-inflation-in-focus\/","title":{"rendered":"WTI oil trading up near $86, US and China inflation in focus"},"content":{"rendered":"

WTI oil futures open the week’s trading session higher, near $86 a barrel as American and Chinese inflation data due out later this week may help point the way for short term oil price direction.<\/p>\n

Latest WTI Oil Price<\/strong><\/p>\n

US Light crude oil futures for March 2011 delivery was trading at $85.73 a barrel, 07.30 GMT this morning on the NYMEX.<\/p>\n

Investors will be watching closely the latest figures on US inflation and retail sales this week for signs that higher food and fuel prices could be hurting American oil consumption. China, the world’s second largest economy, reports inflation data tomorrow.<\/p>\n

“The surge in commodity prices is expected to dominate this week’s economic releases. A rise in food and energy prices should have led to some stiff increases in consumer and producer prices.” said Capital Economics.<\/p>\n

WTI oil prices jumped to a 2 year high above $92 earlier this month before falling back to around $85 as fears eased that the political crisis in Egypt could disrupt crude oil supplies. President Hosni Mubarak resigned Friday, following 18 days of anti government riots that brought millions of protesters to the streets.<\/p>\n

Investors have turned their attention to the impact high oil prices could have on inflation as the US economy appears to be on stronger footing.<\/p>\n

Worries over a global economic double dip and a European sovereign credit crisis in 2010 have moved onto concerns about whether there is further need for QE2, given the more robust US economic data and overheating pressures in Asia.<\/p>\n

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