Excerpt from: GFT Analysts in the News
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| January 06, 2009 | | Oil futures rise in commodities trading | Oil prices are heading back above $50 a barrel right now, thanks in large part to a shift in focus by investors. Oil futures are looking up, and supply is the new story.
In recent weeks, all of the focus has been on declining demand for oil in commodities trading, thanks to concerns about global recession. However, with OPEC production cuts slated for this month, and hope of economic stimulus (especially in the U.S.), oil prices are on the rise again.
Bloomberg reports on the shift for oil prices in commodities trading:
“The focus is shifting from demand to supply again,” said
Eugen Weinberg, a Commerzbank AG analyst in Frankfurt. “We know
demand is going to be very weak, but cuts from OPEC and the
latest geopolitical risk will compensate.”
| Topic Tags: commodities trading, economic stimulus, oil futures, oil prices, OPEC production cuts, spread bets oil, spread betting commodities | |
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