Excerpt from: GFT Analysts in the News
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| February 18, 2009 | | Oil futures back around $35 a barrel | Right now, oil prices are back around $35 a barrel. Economic news has made it difficult for oil to stabilise, much less start making ground in commodities trading.
However, oil prices are far from out of the woods. It is expected that the U.S. stock market will actually play a large roll in oil's recovery, reports MarketWatch:
"The U.S. stock market will be key to watch, as equities are
precariously poised at current levels," said Edward Meir, an analyst at
MF Global. "Should we test the November intraday lows, and fail to
bounce off it, we could see another leg lower in both stock and
commodity markets."
Indeed, the U.S. stock market is likely to serve as a barometer, measuring sentiment toward economic stimulus, and whether recent measures taken by the government are working.
| Topic Tags: CFDs, commodities, contracts for differences, futures trading, oil futures, oil prices, spread bets, spread bets oil, spread betting, U.S. stock market | |
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