Thursday, December 23, 2010

Positive Macro Economy Data, Declining Dollar, Favorable Inventories Contributing to Rise in Oil Price

Wall Street Strategies submits:

By Conley Turner

The price of crude oil has once again breached $90 per barrel at the end of the week as traders and investors have become more optimistic about the economic prospects of the US. A combination of factors including positive data about the macro economy, a declining dollar and favorable inventory numbers are all contributing to the secular rise in the price of the commodity.


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