Oil News

Markets on Thursday settled at $72.68, the highest since October 20 after a three-day rally, making it look overvalued to some analysts

Crude Oil falls as the Dollar strengthens and European industrial production sli

Markets on Thursday settled at $72.68, the highest since October 20 after a three-day rally, making it look overvalued to some analysts

Crude Oil fell as a record plunge in European industrial production prompted speculation that hopes for an economic recovery are premature. Markets on Thursday settled at $72.68, the highest since October 20 after a three-day rally, making it look overvalued to some analysts. The dollar gained, reducing the investment appeal of oil and commodities. “We believe most commodity markets are still quite overbought and could be subject to a modest sell-off next week,” said Edward Meir, analyst at MF Global.”We are getting to a stage where the steep run-up in prices has arguably over-discounted the modest brightening we are seeing in the U.S. macro picture.” Crude Oil is trading at $71.47 as of 11:30am, London Time. Crude

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