Results 1 to 5 of 5

Thread: oil

  1. #1
    Bullish
    Join Date
    Jun 2007
    Posts
    75
    FXO Shares
    0
    FXO Bonus
    0.000
    Thanks
    0
    Thanked 0 Times in 0 Posts

    Arrow oil

    Oil prices managed last week to break the psychological barrier at 70.00$ pb and close above it, for the first time in almost a year, affected by fears regarding oil supplies in the U.S. which is now one of the main concerns that trouble markets lately. As we mentioned previously, in case supplies will witness further decline in the largest energy consumer in the world, we might see new high levels for crude, and this was the case; therefore oil prices recoded on Friday a high of 71.06$ pb and a low of 69.46$ pb, closing at 70.68$ pb, and recording a total incline by the end of the trading session of 1.11$.

    As for todays morning trading session, oil prices recorded a decline by 25 cents until the hour of this report on profit taking transactions, but its still traded above the 70.00$ level. Crude recorded today a high of 70.68$ pb, and a low of 70.31$ pb, as it opened at 70.52$ pb.

    Despite the return of the U.S. oil refineries to their usual production capacity, after being held by some maintenance operations, however fears regarding oil supplies in the U.S. still govern markets, especially after the decline gasoline stockpiles recorded on Wednesday when the EIAs weekly petroleum report was released. The mid of this week, on the 4th of July to be more precise, we have the Independence Day holiday in the U.S.; in carrying on the ceremonial celebrations US citizens will tend to head for long drives and weekend get away; therefore, demand on gasoline is expected to boost significantly.

    The terrorist attacks which took place on Friday and Saturday in Britain, did not affect oil prices in anyway, as it did not distress supplies and demand.

    Support 69.74 68.80 68.14 67.64 67.34
    Resistance 70.40 71.34 72.00 72.94 73.44
    Recommendation
    ...

  2. #2
    Bullish
    Join Date
    May 2008
    Location
    Dubai (native place: mangalore, india)
    Posts
    91
    FXO Shares
    0
    FXO Bonus
    0.000
    Thanks
    0
    Thanked 0 Times in 0 Posts

    Default

    I have noticed that there is an inverse relationship between the price of gold and the strength of th USD. As the USD gets stronger during the day, it seems the price of gold go down. Can u explain this relationship?

  3. #3
    In Profit
    Join Date
    Jul 2008
    Posts
    90
    FXO Shares
    0
    FXO Bonus
    0.000
    Thanks
    0
    Thanked 0 Times in 0 Posts

    Default

    Les prix du ptrole Purcell barrire de 160 dollars au cours de l'anne

  4. #4
    london
    Guest

    Question i really want to know

    the inverse relation between strenght of dollar and oil price is something i really want to know also, i want a vivid explanation.

  5. #5
    In Profit
    Join Date
    May 2008
    Posts
    107
    FXO Shares
    0
    FXO Bonus
    0.000
    Thanks
    0
    Thanked 0 Times in 0 Posts

    Default

    Quote Originally Posted by london View Post
    the inverse relation between strenght of dollar and oil price is something i really want to know also, i want a vivid explanation.
    US as the highest oil/energy consumtion need more oil to make the economy move, the Increase of oil price will make over cost production this tend to inflation, which is inflation (PPI,CPI) will give bad effect to currency

    I hope this explanation will help

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  
Disclaimer
2005-2017 © FXOpen All rights reserved. Various trademarks held by their respective owners.

Risk Warning:: Trading on the Forex market involves substantial risks, including complete possible loss of funds and other losses and is not suitable for all members. Clients should make an independent judgment as to whether trading is appropriate for them in the light of their financial condition, investment experience, risk tolerance and other factors.

FXOpen Markets Limited, a company duly registered in Nevis under the company No. C 42235. FXOpen is a member of The Financial Commission.

FXOpen AU Pty Ltd., a company authorised and regulated by the Australian Securities & Investments Commission (ASIC). AFSL 412871ABN 61 143 678 719.

FXOpen Ltd. a company registered in England and Wales under company number 07273392 and is authorised and regulated by the Financial Conduct Authority (previously, the Financial Services Authority) under FCA firm reference number 579202.

FXOpen does not provide services for United States residents.

Join us