Oil News

A series of positive economic indicators from the U.S. and India, together with a bullish survey of Chinese manufacturing lifted oil to $54.64

Crude Oil steadies at $54 a barrel as investors pause after the rally

A series of positive economic indicators from the U.S. and India, together with a bullish survey of Chinese manufacturing lifted oil to $54.64 

Oil edged down towards $54 a barrel on Tuesday as investors paused for breath after a four-day rally, when hopes of economic recovery sent the contract to its highest settlement for 2009 in the previous session. A series of positive economic indicators from the U.S. and India, together with a bullish survey of Chinese manufacturing lifted oil to $54.64 in post-settlement trading, two cents shy of its highest trade so far this year. Crude Oil is trading at $53.95 as of 9:30am, London Time. Crude’s Pool-Position is 49% Long, meaning that half of Finotec traders are buying and the other half are selling the commodity.

Derivative and forex trading broker Finotec is a division of leading real-time Internet trading company Finotec Trading Inc, which pioneered the world of online forex trading in 1998. After launching our revolutionary forex online trading platform in 2001, we continued to improve our services and now serve clients of all sizes in many locations worldwide, offering them real-time Internet trading not only in currencies, but also in options, commodities,... More