232464 Resource 133514 120646 120646 1242824322598 1242824322598 Controlled Oil Futures Trading Above $60 a Barrel Oil prices inch higher <p><font size="2" face="verdana,arial,helvetica,sans-serif">Yesterday,<a href="item/232401" target="_blank" title="oil prices, oil futures, futures trading, stockpiles, oil demand, Nigeria, economic recovery, recession"> oil prices touched $60 a barrel</a> before falling back. Today, though, the story is different -- at least in the early U.S. session.<b> Oil prices</b> are holding their gains today. <a href="http://money.cnn.com/2009/05/20/markets/oil/index.htm?section=money_topstories" target="_blank" title="oil prices, oil futures, futures trading, stockpiles, oil demand, Nigeria, economic recovery, recession">Oil futures are trading just above $60 a barrel</a>, on economic recovery hopes, problems in Nigeria and on U.S. inventory news.</font></p> <p><font size="2" face="verdana,arial,helvetica,sans-serif"><b>Economic recovery hopes</b>: When the global economy starts to recover, oil demand is expected to rise. There are hopes that the worst of the recession is over, and that economic recovery is about to begin.</font></p> <p> <font size="2" face="verdana,arial,helvetica,sans-serif"><b>Problems in Nigeria</b>: Nigeria has been seeing periods of unrest for years, and when there is a flare up, it affects oil prices (sending them higher). Refineries in Nigeria are being attacked, which is restricting supply. Unrest stems from rebels who are unhappy with how oil wealth is distributed.</font></p> <p><font size="2" face="verdana,arial,helvetica,sans-serif"><b>U.S. inventory</b>: U.S. oil stockpiles are considered a gauge of how much demand there is in the world's largest oil-consuming country. Stockpiles are expected to have dropped for a second week, which means that demand is up in the U.S.</font><br /></p> 9 application/xml false economic recovery futures trading Nigeria oil demand oil futures oil prices recession spread betting stockpiles Oil Futures Trading Trading futures with GFT http://www.gftfutures.com Spread bets on Oil Prices Spread betting on commodities http://www.gftuk.com/land/index.asp?aid=53 Mozilla/5.0 (Macintosh; U; Intel Mac OS X 10.5; en-US; rv:1.9.0.10) Gecko/2009042315 Firefox/3.0.10 GTB5 127.0.0.1 127.0.0.1 mmarquit 63.248.1.10 false true false false true 133514 blog blogsite/GFTUK/web