Wednesday, September 9, 2009

September 9. 2009

Last week was about whether the futures price of crude would stop at $60 or whether it could go below that price. The falling dollar, talk of price stability from OPEC and expected inventory declines have led to steep increases over the past since last Wednesday and crude is now 5% over last week's low. Analysts are also talking about a falling dollar and an improving economy.

Tomorrow's inventory report should provide a better indication of demand as falling inventories will signal strengthening demand and could boost prices upwards.

No comments:

Post a Comment