Oil News

Crude Oil is trading at $78.70 as of 21:48PM, London Time. Crude’s Pool-position is 13% long, meaning that most Finotec clients are selling the commodity.

Crude Oil slips as the dollar strengthens and November contracts expire

Crude Oil is trading at $78.70 as of 21:48PM, London Time. Crude’s Pool-position is 13% long, meaning that most Finotec clients are selling the commodity.

U.S. crude futures slipped in volatile trading on Tuesday, but only after reaching a 2009 high above $80 a barrel as the weak dollar supported oil futures and the November crude contract headed to expiration. The November contract approaching expiration could provide some price volatility and some trading sources expressed caution about profit taking, or a correction, after crude’s eight consecutive trading days finishing higher. The dollar hit a 14-month low against a basket of currencies on Tuesday as policymakers in Europe and Asia remarked on the dollar slide, but options-related buying kept it from pushing through $1.50 per euro and 90 yen. Crude Oil is trading at $78.70 as of 21:48PM, London Time. Crude’s Pool-position is 13% 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