Oil Prices Surge Higher Then Fall Back

[FXexpert]

Oil prices surged higher on Friday, pushing past the $70 per barrel mark, then fell back to finish out at $68.44. The rise came as investor confidence in the United States economy, the largest consumer of energy worldwide, continues to increase.

In the past 40 days, the average price of gas has increased by more than 54 cents per gallon.

[JEAN]

The oil price is under 71.00 dollars per barrel, after the dollar's climb. The loonie is the currency most linked to the crude's evolution.

[alessio09]

Prices have risen 60 percent this year and reached a seven-month high of $73.23 on June 11.

[Sofia]

thanks guys for the analysis, do you all trade oil? for me commodity trading is beyong scope right now

[JEAN]

Hi!
I don’t trade crude; I check it out for my other trades!

Today it dropped a little because of the usd weakening….
Here is a chart of the crude’s evolution
http://files.ac-markets.com/Newslett...Jul09_1211.JPG

[forerx]

I don’t trade crude; I check it out for my other trades!

[Forexplayer]

Originally Posted by Sofia

thanks guys for the analysis, do you all trade oil? for me commodity trading is beyong scope right now

I'm sticking to currency at the moment. No oil for me in the near future.

[alessio09]

As for me, I made a large part of my gains trading crude oil. I find it attractive, why not

Crude Oil finished trading at $72.14 a barrel on Thursday, down $1.64, as investors felt that the commodity was overvalued. Crude Oil prices also declined yesterday, as investors realized it was overvalued, as prices soared during the last 2 days.