Brent oil trading firm at $124, may advance on weak US dollar<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" Brent oil futures on Monday’s trading session back over $124 a barrel and crude oil prices may advance this week as the US dollar is expected to continue to show some weakness in currency markets. Latest Brent Oil Price Brent crude oil futures for June 2011 delivery was trading at $124.50, 08.15 GMT this morning in electronic trading on the ICE Futures Exchange. Trading is thin due to the Easter Monday holiday. ICE Dollar Index Remains Weak The ICE US Dollar Index, which tracks the US dollar against six major world currencies hovered around 3 year lows on Monday, with investors expecting further weakness as the upcoming US Fed policy setting meeting is likely to announce the continuation of low interest rates. Many traders are forecasting that the US dollar could test a three year low of 73.735 hit last week. A break of that could open the way for a test of the record low of 70.698 hit in 2008. “It’s all up the Fed and Bernanke’s stance at his news conference. The US dollar could fall further depending on US interest rates.” said a trader at a Japanese bank. A weaker US dollar tends to fuel oil prices as they become cheaper for investors to buy using other currencies. <\/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-13803","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\/13803","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=13803"}],"version-history":[{"count":0,"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/posts\/13803\/revisions"}],"wp:attachment":[{"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/media?parent=13803"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/categories?post=13803"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/tags?post=13803"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}