Oil rose to its highest level in three weeks, nearing $78 a barrel, as signs of growing Chinese demand for energy and a cheerier Wall Street boosted prices.
Crude for August delivery rose 0.7% Monday and climbed 1.2% Tuesday to finish at the highest level since June 28, at $77.44 a barrel. But prices drifted 19 cents lower on Wednesday. The rise tracked gains in the stock market, as investors welcomed better-than-expected company earnings.
A report Tuesday, from the International Energy Agency said that China overtook the U.S. as the world's biggest energy user last year, and prospects for continued growth and rising energy demand are strong.
"Everyone has been so concerned about the U.S. economy, but the report on Chinese demand opened up traders' eyes to the idea that we shouldn't worry about every piece of economic data from the U.S., but instead take a global view," said James Cordier, president of Liberty Trading Group.
Oil futures, which switched to the September contract Wednesday, continued to climb for a third straight session early Wednesday, crossing $78 a barrel. But prices slipped later in the day, after a government report showed a surprise build in crude inventories. Still, they held above $77 a barrel.
The Energy Information Administration reported that crude stocks climbed by 400,000 barrels last week, surprising analysts who were expecting inventories to fall by 1.6 million barrels, according to a consensus estimate collected by energy information provider Platts.
Gasoline inventories and distillates, used to make heating oil and gas, also rose more than expected.
A stronger dollar also weighed on prices Wednesday. Crude oil, like other commodities, is priced in dollars, and a stronger greenback pressures prices.
Despite the recent run, Cordier expects oil prices to remain between $70 and $80 a barrel, where they have been trading since May.
"The global economy is strong enough to support prices above $70, but without the U.S. economy turning around -- stocks sustaining a rally and unemployment coming down -- oil prices won't be able to break through $80 a barrel," he said
Oct 30, 2010
forex simulator trading
How to Use Forex Simulator Trading To Understand About Forex Trading
It is going to be essential for you to understand how to trade in the forex market. Forex simulation trading can be accustomed to help you learn how you can trade. With simulator trading you can understand about the procedures and terms that function in the forex field.
What happens in simulation trading is the fact that you will function having a arranged amount of simulated bucks. You will use these bucks to create simulated trades within the forex area. Because this is all a simulation the money that is used isn’t actual.
A range of different essential terms are employed in Forex Trading. When working having a simulator you are able to learn many various conditions. Between these conditions include the stop reduction, the clearing cost and the limit order. Having a simulator you may also understand how you can read currency pair evaluation research.
All forex trading groups work with their own different software program platforms. With simulation trading you will be able to understand how you can use the system. This is thanks to how you’ll function with simulated money here. Being able to use a simulator platform is critical. It will help to use simulated deals on this type of system.
You will need to make use of the correct methods for your trading requirements so that you can be successful. You can understand about different trading strategies via experience with a simulation. You should work having a simulation and figure out a strategy that may provide you with constant profits. This is so you’ll be successful when really trading about the market.
Forex simulation trading is excellent to utilize when getting into this company. It’ll help you to see how forex trading functions through the use of simulated deals. As a result you are able to physique out how forex trading works and what strategy functions for you personally.
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Business Trading Forex
It is going to be essential for you to understand how to trade in the forex market. Forex simulation trading can be accustomed to help you learn how you can trade. With simulator trading you can understand about the procedures and terms that function in the forex field.
What happens in simulation trading is the fact that you will function having a arranged amount of simulated bucks. You will use these bucks to create simulated trades within the forex area. Because this is all a simulation the money that is used isn’t actual.
A range of different essential terms are employed in Forex Trading. When working having a simulator you are able to learn many various conditions. Between these conditions include the stop reduction, the clearing cost and the limit order. Having a simulator you may also understand how you can read currency pair evaluation research.
All forex trading groups work with their own different software program platforms. With simulation trading you will be able to understand how you can use the system. This is thanks to how you’ll function with simulated money here. Being able to use a simulator platform is critical. It will help to use simulated deals on this type of system.
You will need to make use of the correct methods for your trading requirements so that you can be successful. You can understand about different trading strategies via experience with a simulation. You should work having a simulation and figure out a strategy that may provide you with constant profits. This is so you’ll be successful when really trading about the market.
Forex simulation trading is excellent to utilize when getting into this company. It’ll help you to see how forex trading functions through the use of simulated deals. As a result you are able to physique out how forex trading works and what strategy functions for you personally.
Want to find out more facts on this topic without the fluff? Go to the net’s leading resource on this issue! Click here now
Business Trading Forex
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