West Texas Intermediate (WTI) Crude Oil futures, expiring in January 2016 traded down below the $35-a-barrel price mark once again today, and Bidness Etc believes that the weakness will persist. Read on to find out why.
The benchmark for US crude prices had traded down as low as $34.53 per barrel on Monday. During the trading session, the futures contract had traded below the $35 level for close to half an hour, before crossing the mark.
The following is excerpted from our February 6th Live Feed commentary. The Live Feed broadcasts every trading day prior to market open — with trading setups, charts, real-time executions, and more.
The holiday-thinned activity may have distorted the price action, but the general theme that has emerged in recent weeks remains very much intact. The US dollar's weakness, which many observers and the media emphasize, is very narrow and largely confined to the euro and sterling (and a few currencies that move in their orbits).
Article written by Prieur du Plessis, editor of the Investment Postcards from Cape Town blog.By Cees Bruggemans, Chief Economist of FNB.As fast as Rand strength seemed to be gathering the one moment, in December reaching 6.55:$ and 8.70:€, with increasing concern about yet more strength to come in 2011, so fast has it been ebbing away the next moment as January saw rapid Rand sliding taking hold.