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Brent oil trading near $74, eyes on markets, US dollar
Published on August 23, 2010 by oilprices · No CommentsBrent crude oil prices open the week’s trading session little changed, near $74 while short term price direction will come from stock markets and the US dollar.
In London, Brent crude oil futures for September 2010 delivery was trading at $74.32, 08.00 GMT on the ICE Futures Exchange.
The US dollar held steady on Monday, retaining most of the gains it made late last week when growing worries about the global economy prompted investors to park funds in the world’s most liquid currency.
The ICE Dollar Index, a gauge of the dollar’s performance against six major currencies, climbed to a one month high of 83.304 on Friday, however the index was down 0.2 percent at 82.918 in Asian trading today.
Meanwhile, European stock markets opened higher and are expected to take cue from a series of economic figures to be released this week.
Tags: brent, Brent oil, brent oil price, oil, oil trading, stock markets, trading, US dollar