Oil News

Crude is trading at $74.50 as of 10:27PM, London Time. Crude’s Pool-Position is 23% Long, meaning that most Finotec are selling the commodity.

Crude Oil rises as trader see demand increasing in the future

Crude is trading at $74.50 as of 10:27PM, London Time. Crude’s Pool-Position is 23% Long, meaning that most Finotec are selling the commodity.

Crude oil rose to a seven-week high in New York on speculation world energy use will grow as the economy rebounds and as a weaker dollar spurs commodity demand. Oil is “really moving, not only on dollar dynamics but equity dynamics as well,” Harry Tchilinguirian, senior oil market analyst at BNP Paribas SA in London, said today on Bloomberg Radio. “In the end we are looking at oil as more of an investment asset than a consumption asset.” Crude is trading at $74.50 as of 10:27PM, London Time. Crude’s Pool-Position is 23% Long, meaning that most Finotec are selling the commodity.