Daily oil trading report from ODL Markets

Published on February 16, 2010 by oilprices · No Comments

Oil rallied in trading as the US Dollar weakened against the Euro once again. We are trading at in and around the $75 level, with traders growing more confident that the global economy is moving away from a downturn following concerns in Dubai and Greece.

The year chart below shows the trend for 2010 is negative, so we need to see if the next move is back up to the $80 level, or will it be a reversal back towards $70?

16022010

Commodity	Level	Change
ICE BRENT CRUDE – MAR 10	$73.36	+$0.87
ICE WTI – MAR 10	$74.81	+$0.94

Tags: dollar, euro, markets, odl, oil, oil trading, report, US

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