Brent oil prices open Tuesday’s trading session steady around $95 a barrel as investors continue a bullish mood for crude oil amid a firm US dollar, as seen by movements in the ICE Dollar Index.
Latest Brent oil price
In London, Brent crude oil futures for February 2011 delivery was trading at $94.94 a barrel, 06.15 GMT on the ICE Futures Exchange.
Meanwhile, the US dollar was slightly higher as the ICE US Dollar Index remained above its 55 day simple moving average and amid light trading.
“Oil sentiment has turned decidedly bullish, partly driven by unusually cold weather, but more due to an increasingly optimistic consensus view on 2011 economic performance, especially for the US.” JP Morgan analysts led by Lawrence Eagles said.