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Crude Oil is steady as inventories fall and the Dollar gains

By:   Finotec
  • 2009-02-07
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Crude Oil is trading at 68.40 as of 9:40am, London Time. Crude’s Pool-Position 96% Long, meaning that most Finotec clients are buying the Commodity.

Crude Oil is trading just above $69 a barrel on Thursday, after it fell in the previous session on data showing a larger than expected increase in U.S. gasoline stocks, which dented hopes of a demand recovery. The next clue on the economy will come from the widely watched U.S. nonfarm payroll report for June out later Thursday, which is expected to show unemployment at a 26 year high of 9.6 percent or even 10%. Crude Oil is trading at 68.40 as of 9:40am, London Time. Crude’s Pool-Position 96% Long, meaning that most Finotec clients are buying the Commodity.


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