Oil

[raihan8212]

Crude oil futures fell in Asian trading on Monday after the International Energy Agency cut its forecast for global crude demand.

On the New York Mercantile Exchange, light, sweet crude futures for delivery in December traded at USD91.47 a barrel on Monday, down 0.88%, off from a session high of USD91.45 and up from an earlier session low of USD91.49.

The International Energy Agency trimmed its forecasts for 2012 and 2013 oil demand by 100,000 barrels a day for each year from forecasts made in September.

The news sent oil prices falling on concerns a cooling global economy will need less fuels and energy to operate.

Uncertainty over Spain's intentions to request a bailout kept oil lower as well.

Ongoing Middle East tensions bolstered the commodity though bears outnumbered the bulls during the session.

On the ICE Futures Exchange, Brent oil futures for December delivery were down 0.53% and trading at USD112.97 a barrel, up USD21.50 from its U.S. counterpart.

[Jobs]

Oil can see that there is clear support for 91 dollars ... but if you take a longer interval, I'd say that the oil is now so I think this level of 91 dollars will soon be broken and the price will drop again to around 88 dollars ...

[forexking2]

Oil price shows some tendency bearish heading towards the level of 91.45, where the neutral position continues to exist to give us a clearer price signals the next direction on intraday and short term.

[moshiur]

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[Irika]

Indeed the recent oil is very sharp and twitching, while noticeable retreat from 95.50 resistance, confirmation of motion to the south was also the breakthrough oblique support level, it is possible that reduction will last for 91.15 .. 90.25.

[nurdiantofxwave]

Based on the daily chart, a bullish trend Oil looked in the dark cloud cover candlestick format. Oil possibility of further movement tried to break resistant at 93.18 and if managed to penetrate resistant so the next target is 93.97.

[gandha]

Oil climbed back in European trading hours on Thursday, as rising tensions between Syria and Turkey are still ongoing so as to give impetus to the strengthening of oil prices and investors are waiting for the U.S. oil supply data. Oil had fallen as much as 1.2% on Wednesday. Ahead of EIA data reports later tonight, before the American Petroleum Institute reported late Wednesday that oil inventories increased by 1.65 million barrels for the week ending October 5.

[raihan8212]

Crude oil futures were lower in Asian trading hours on Friday.

On the New York Mercantile Exchange, Crude oil futures for November delivery traded at USD92.22 a barrel at time of writing falling 0.17%.

It earlier traded at a session low USD92.22 a barrel. Crude oil was likely to find support at USD88.21 and resistance at USD93.64.

US Dollar Index, which tracks the performance of the greenback versus a basket of six other major currencies, fell 0.02% to trade at USD79.86.

Elsewhere on the ICE, Brent oil for November delivery fell 0.29% to trade at USD115.49 a barrel, with the spread between the Brent oil and Crude oil contracts standing at USD23.27 a barrel.

[pish]

Oil is mostly afected by flactuation of usd, its a Oil is also influenced by consumer demand.
The higher spending in consumer demand. especially america the largetst consumer of oil.
International price hicked or production cost also drives the price of oil.

[malik kaleem]

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