Oil News

Crude Oil falls as U.S inventories are predicted higher than expected despite the Crude is trading at $72.29 as of 7:51am, GMT with a bullish trend

Crude Oil falls as U.S inventories are predicted higher than expected despite the Crude is trading at $72.29 as of 7:51am, GMT with a bullish trend

Oil fell below $72 a barrel on Tuesday, after rising nearly 1 percentthe day before, weighed down by nagging worries over an uncertaindemand outlook and the fiscal health of some euro zone countries. Oilprices have lost nearly 10 percent this year, dragged down by datashowing bulging fuel stockpiles in the U.S. despite cold weather.Concerns about slower Asian demand if China further tightens itsmonetary policy, and more recently, jitters over Europe’s financialstability. “There is some unwinding of price increases overnight. Thecontinual flight to quality is underpinning the strength of the U.S.dollar, which is in turn weighing on oil prices and commodities ingeneral,” said Ben Westmore, commodities analyst with the NationalAustralia Bank in Melbourne. Crude is trading at $72.29 as of 7:51am,GMT with a bullish trend. 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