Excerpt from: GFT Analysts in the News
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| August 21, 2008 | | Oil futures on the commodities market | Right now, oil prices continue their jerky climb higher, after plunging earlier this month and last month. One of the latest bits of news to affect oil prices is that of gasoline inventories. The Huffington Post reports on gasoline inventories:
Gasoline inventories shrank by a larger-than-expected 6.2 million
barrels to below-average levels in the week ended Aug. 15, the U.S.
Energy Department's Energy Information Administration said Wednesday.
Other factors fueling oil prices
There are other factors behind the rise in oil prices, though. A rather broad number of issues are piling up on top of gasoline inventories to fuel the rise in oil futures:
- Weaker U.S. dollar in forex trading.
- OPEC is indicating it may reduce output.
- Tensions continue between the U.S. and Russia.
| Topic Tags: commodities market, forex trading, gasoline inventories, oil futures, oil prices, spread bets oil prices, spread betting commodities, U.S. dollar | |
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