Thread: Oil Prices Slip After Rally

Oil prices rallied last week, only to a see a slip on Monday. Prices fell near the $61 per barrel mark, the drop comes a few days before an OPEC meeting scheduled for May 28th.

As demand steadily rises experts predict that prices could reach $75 per barrel by the middle of July, higher than in months but a far cry from the prices seen at the same period in 2008.

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Forex expert.... What are you up to? You are so recognized and senior member of this forum and still you are not posting ethically?

You started with a thread for oil updated and you are now posting something which is totally irrelevant from your previous post. Also a copy from ezine article?

I actually meant to post that in the Forex Tr**** thread(where it would've been relevant), I apologize :)

I understand, there is no chances for editing post also. But y have you copied it from ezine? also your every second or third word is hyperlinked.

This is not good. Anyways so what are the latest news on oil?

Price of crude oil is constantly raising because of the poor performance of US dollars. It is forecasted that in the end of 2009 it will somewhere around $75-$80 per barrel. On Wednesday Oil prices extended their decline after a weekly government inventory report said crude supplies rose unexpectedly. Analysts expected oil supply to decrease by 2 million barrels.

Originally Posted by Reealjrd

Price of crude oil is constantly raising because of the poor performance of US dollars. It is forecasted that in the end of 2009 it will somewhere around $75-$80 per barrel. On Wednesday Oil prices extended their decline after a weekly government inventory report said crude supplies rose unexpectedly. Analysts expected oil supply to decrease by 2 million barrels.

Thanks for the update Reealrd.

Hey friend,

I recently read a news on a forex online site that Crude oil price retreated to as low as 66.78 yesterday due to strength in USD and correction in stock markets.

It was also mentioned that the dollar declines came after the U.S. Treasury released a statement approving 10 of the country's biggest banks requests to repay the 68 billion dollars in government funds received as part of the Toxic Asset Relief Program (TARP) during the height of the financial crisis. This raised hopes that the worst could be over.

Cheers

Thanks for this analysis!

Welcome buddy!!! :)