Excerpt from: GFT Analysts in the News
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| June 17, 2008 | | Oil futures still have a solid uptrend | Oil prices have fallen back a bit in commodities trading, after nearly hitting $140 per barrel yesterday. However, even with the easing, oil futures are still showing a great deal of strength. Indeed, reports Oilweek, large price swings are hardly uncommon in the present climate:
"Price swing of $5 per barrel isn´t unusual anymore. The issue
really is global oil demand is growing at a reasonable pace and supply
is still playing a catch-up game," said Victor Shum, an energy analyst
with Purvin & Gertz in Singapore.
"Further into summer, there are still opportunities for further price spike. The overall uptrend in oil pricing remains intact."
| Topic Tags: $140 a barrel, commodities, commodities trading, futures trading, oil futures, oil prices, spread bets oil prices, spread betting commodities | |
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