| The oil market started the day on a bright note |
|
|
|
|
|
gnutrade.satya
Senior Member
Cash: $ 48.60
Posts: 220
Joined: 06 May 2009
Location: Hyderabad
|
| The oil market started the day on a bright note |
 |
|
The oil market started the day on a bright note encouraged by an extended shutdown of a major Canada-US crude pipeline and strong Chinese demand growth and industrial output. Data from China, which is the world's second-largest oil user, also boosted prices.
Ben Westmore, a commodities analyst at National Australia Bank said: "The Chinese data was overwhelmingly positive. China is in a soft landing after all the stimulus, and emerging economies are growing quite strongly. In terms of oil use, that portends strong demand in the coming months."
Richard Ilczyszyn, senior market strategist at Lind-Waldock in Chicago said: "I think today's rise is carry-over from Friday with the Enbridge pipe outage. Equities were stronger early on and the dollar is getting cremated against the euro, which is adding support."
A barrel of crude oil for November delivery was closed up 74 cents at $77.19.
http://www.gnutrade.com
|
Tue Sep 14, 2010 9:04 am |
|
|
Jammy
Full Member
Cash: $ 15.90
Posts: 73
Joined: 15 Sep 2010
|
| That's a lot |
|
|
"Barrel of crude oil for November delivery was closed up 74 cents at $77.19." That's a lot. Didn't know it was that much.
payday loan
|
|
Fri Sep 17, 2010 8:15 am |
|
|
|
