Excerpt from: Financial Spread Betting Strategies
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| August 13, 2008 | | Financial spread betting strategy on oil prices | Financial spread betting strategy on oil prices should consider that they are on the rise -- albeit very slightly. As the market waits for inventory data, oil futures are nudging their way higher.
However, they are still rather low for recent weeks, below $114 a barrel. Additionally, forecast for the price of oil by the end of the year have been revised significantly downward from earlier predictions of $200 a barrel.
Today's inventory report should help establish a general direction for oil prices in the coming weeks. MarketWatch reports on some of the issues surround oil futures:
"Overall, fears over weakening demand are still dominating the market,
so today's report from the EIA could indicate a near term direction for
crude futures," said Andrey Kryuchenkov, an analyst at commodities
research firm Sucden Research. | | |
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