{"id":14033,"date":"2011-05-20T07:46:56","date_gmt":"2011-05-20T05:46:56","guid":{"rendered":"http:\/\/bontrade.org\/blog49\/14033\/brent-oil-trading-near-111-as-us-dollar-rally-starts-fading\/"},"modified":"2011-05-20T07:46:56","modified_gmt":"2011-05-20T05:46:56","slug":"brent-oil-trading-near-111-as-us-dollar-rally-starts-fading","status":"publish","type":"post","link":"https:\/\/bontrade.org\/blog49\/14033\/brent-oil-trading-near-111-as-us-dollar-rally-starts-fading\/","title":{"rendered":"Brent oil trading near $111 as US dollar rally starts fading"},"content":{"rendered":"<p><p>Brent oil prices open today&#8217;s trading session near $111 a barrel and could firm higher as the recent gains in the US dollar start to fade, together with yesterday&#8217;s IEA oil demand warning could fuel commodity and oil price rises.<\/p>\n<p><strong>Latest Brent Oil Price<\/strong><\/p>\n<p>In London, Brent crude oil futures for July 2011 delivery was trading at $111.54 a barrel, 06.30 GMT this morning on the ICE Futures Exchange.<\/p>\n<p>Meanwhile, the ICE US Dollar Index, which tracks the US dollar against six major world currencies, slipped to 75.106, from 75.438 in late US trading on Thursday.<\/p>\n<p><strong>Volatile Range for Oil Prices<\/strong><\/p>\n<p>Brent crude oil futures have traded in a volatile range in recent weeks and has fallen sharply from its recent high of $127 a barrel reached in April.<\/p>\n<p><strong>IEA Issue Oil Demand Warning<\/strong><\/p>\n<p>The IEA (International Energy Agency) said yesterday that despite a recent 10 percent fall, oil prices remained high because of strong demand and geopolitical uncertainty (a reference to unrest in the Middle East).<\/p>\n<p>&#8220;As global demand for oil increases seasonally from May to August, there is a clear, urgent need for additional supplies &#8230; to prevent a further tightening of the market.&#8221; said the IEA governing board.<\/p>\n<\/p>\n<p>Read more from the original source:\u00a0<br \/>\n<a target=\"_blank\" href=\"http:\/\/www.liveoilprices.co.uk\/oil\/oil_prices\/05\/2011\/brent-oil-trading-near-111-as-us-dollar-rally-starts-fading.html\" title=\"Brent oil trading near $111 as US dollar rally starts fading\">Brent oil trading near $111 as US dollar rally starts fading<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p> Brent oil prices open today&#8217;s trading session near $111 a barrel and could firm higher as the recent gains in the US dollar start to fade, together with yesterday&#8217;s IEA oil demand warning could fuel commodity and oil price rises. Latest Brent Oil Price In London, Brent crude oil futures for July 2011 delivery was trading at $111.54 a barrel, 06.30 GMT this morning on the ICE Futures Exchange. Meanwhile, the ICE US Dollar Index, which tracks the US dollar against six major world currencies, slipped to 75.106, from 75.438 in late US trading on Thursday. Volatile Range for Oil Prices Brent crude oil futures have traded in a volatile range in recent weeks and has fallen sharply from its recent high of $127 a barrel reached in April. IEA Issue Oil Demand Warning The IEA (International Energy Agency) said yesterday that despite a recent 10 percent fall, oil prices remained high because of strong demand and geopolitical uncertainty (a reference to unrest in the Middle East). &#8220;As global demand for oil increases seasonally from May to August, there is a clear, urgent need for additional supplies &#8230; to prevent a further tightening of the market.&#8221; said the IEA governing board. <\/p>\n","protected":false},"author":7,"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-14033","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\/14033","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\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/comments?post=14033"}],"version-history":[{"count":0,"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/posts\/14033\/revisions"}],"wp:attachment":[{"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/media?parent=14033"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/categories?post=14033"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/tags?post=14033"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}