Oil News

Crude Oil rise as the Dollar weakens and demand surges

Crude Oil rise as the Dollar weakens and demand surges

Crude Oil is trading at $71.30 as of 9:26am, London Time. Crude’s Pool-Position is 45% Long, meaning that most Finotec clients are Selling the commodity.

Oil prices rallied above $71.50 a barrel on Wednesday, extending the previous session’s dollar-driven 4.5 percent rally as investors waited for an OPEC meeting to conclude and fresh U.S. inventory data. With OPEC widely expected to keep output targets unchanged, the focus remained on the dollar, which shed more than 1 percent on Tuesday. Crude Oil is trading at $71.30 as of 9:26am, London Time. Crude’s Pool-Position is 45% Long, meaning that most Finotec clients 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