Daily oil trading report from ODL Markets

Published on February 25, 2010 by oilprices · No Comments

Oil continues to trade at the $80 level as Bernanke soothed market fears that interest rates would follow the discount rate by being raised in the near future.

As the Fed Chairman said that rates would remain at current levels, this increased confidence that global demand wouldn’t be hit by increased rates. The US Dollar has rallied though, which may add some downside pressure taking in to account their inverse relationship.

25022010

Commodity	Level	Change
ICE BRENT CRUDE – MAR 10	$77.70	-$0.39
ICE WTI – MAR 10	$79.52	-$0.48
GASOIL – MAR 10	$629.25	-$1.25

Tags: daily, markets, odl, oil, report, trading

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