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.
OIL Oil traders sold crude to book profits on Friday after strong data from major economies increased optimism about the state of the world economy and underpinned gains made during the week. Brent flat Vs. Thursday at $113.28 , off the session high of $113.84. U.S. crude fell 7 cents to settle at $95.88, off a high of $96.56. Crude was up 0.3 % on the week.
Brent crude touched a three-month high on Wednesday after better-than-expected European data spurred optimism over the global economy, but oil later pared gains on surprisingly weak U.S. growth figures. Brent crude futures were 24 cents higher at $114.60 a barrel by 1701 GMT after hitting $115.24, their highest since Oct. 16, 2012. U.S. crude oil was down 3 cents at $97.54 a barrel.
OILBrent crude rose to a four-month peak on Friday with traders citing optimism about the global economic recovery,while Brent's premium over U.S. oil futures widened nearly $1 a barrel in heavy spread trading.Brent futures for March rose to a high of $117.07 a barrel, its highest since September. Front-month Brent settled up $1.21 to $116.76 a barrel. For the week, Brent futures gained $3.48, or 3 %. U.S. crude gained 28 cents to trade at $97.77,erasing earlier losses. For the week, U.S. crude futures gained $1.89, nearly 2 %.
OIL Brent crude oil future prices dropped in tandem with equities on Monday as traders locked in profits after three weeks of gains that added around 10 % to oil prices since the beginning of December. Brent fell $1.22 to a low of $115.54 per barrel before recovering slightly to $116.00 not far off a 4-1/2 month high of $117.07 reached on Friday. Brent had risen for three straight weeks.
Brent crude oil futures fell on Monday, with gasoline futures leading losses after last week's blizzard in the U.S. Northeast, one of the world's biggest gasoline markets,is expected to have had little impact on regional fuel supplies. Brent lost 77 cents to settle at $118.13 a barrel,after slipping to $117.54 in early trade. U.S. crude rose$1.31 to $97.03 a barrel.
Oil prices rose on Tuesday as OPEC raised the outlook for the amount of crude it will need to pump this year to keep supply and demand in balance. Brent crude rose 12 cents to $118.25 a barrel by after settling down 77 cents on Monday. U.S. crude was up 46 cents to $97.49 a barrel.