dollar Stronger, the Black Gold Down to USD81
Gold Investing April 18th, 2010
- Crude oil prices again weakened, although dikisaran still survive USD81 a barrel level, in trading Tuesday (9/3/2010) local time, along with the strengthening of United States dollars (U.S.).
As quoted by the AFP, Wednesday (10/3/2010), the oil reference price for April contracts, down 37 cents to U.S. $ USD81, 50 per barrel, on the New York Mercantile Exchange (NYMEX.) In the early trading, oil prices had slumped to $ 80, 16 per barrel. While in London, the price of Brent oil fell 56 cents to U.S. $ USD79, 91 on the ICE Futures.
Oil prices weakened due to the pressure the U.S. dollar strengthening, so that for the investors who hold other major currencies to buy oil objection.
According to analyst Addison Armstrong, strengthening U.S. dollar against the euro, triggered by a conversation between President Barack Obama with the Prime Minister of Greece related debt crisis that hit the country.
Meanwhile, the Energy Information Administration said in a monthly projections that oil and gasoline prices tend to be stable this year
