Oil fuels the global economy and oil is what pumps life into the currencies of countries that depend on energy. Learn the relationship between oil and a country’s currency and how it may influence your trades. (Source: Bloomberg)
OIL Brent crude prices dipped on Monday while U.S. oil futures rose as news of a key U.S. pipeline expansion will be completed next month and optimism about a deal to avoid the "fiscal cliff" prompted spread trading between the two contracts. Brent crude futures fell 32 cents to $107.86 a barrel at 1:58 p.m. EST (1858 GMT), having swung from $107.72 to $108.50. The front-month U.S. January crude rose 62 cents to $87.35 a barrel, with prices finding some resistance after briefly topping the 50-day moving average at $87.66 a barrel.
Oil prices rose on Tuesday as signs of progress on talks to resolve the U.S. budget crisis eased concerns the world's top economy could slip into recession. Front-month Brent crude oil prices rose $1.12 to $108.76 a barrel by 2:06 p.m. (1906 GMT), briefly topping the 14-day moving average of $108.87 a barrel. January U.S. crude oil futures gained 57 cents to trade at $87.77 a barrel, breaking above the 50-day moving average of $87.64 a barrel after testing that level during Monday's trade.
Joined May 2011
Status: Figuring this thing out
Umm what the hell happened?! I was in at 88.50 and got out at about 88.78 on one of my levels for some profit. Then BAM! Crazy rise like this. Would've been nice to ride that one up and up knowing now lol.
Expiring U.S. January crude futures rose on Wednesday on expectations that a battle over the U.S. budget will be resolved and reduce the threat of recession and of curbed demand for oil. U.S. January crude futures rose $1.58, or 1.80 , to settle at $89.51 a barrel, having traded from $87.81 to $89.90.
OIL Oil prices rose on Friday, recovering from an earlier dip after news that the U.S. House of Representatives will consider a bill to raise the debt ceiling enough to allow the country to pay its bills for another three months. Brent March crude rose 79 cents to close the week at$111.89 a barrel, having risen from around $107 a barrel in early December.