Excerpt from: Financial Spread Betting Strategies
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| March 05, 2008 | | Oil prices rise on OPEC decision | The OPEC decision to keep oil production output the same prompted oil prices to rise to about $100 a barrel. Placing spread bets on oil prices should consider, however, that oil may come down a bit if gasoline consumption in the US goes down because of the high price of oil. Bloomberg reports on oil prices:
``Keeping production the same allows more flexibility for
OPEC in the future as they can cut if the price comes down,''
said Johannes Benigni, managing director of Vienna-based JBC
Energy. He said prices may slide in coming weeks because of
``reduced gasoline consumption in the U.S.'' | | |
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