CRUDE OIL
Crude oil prices moved up by less than a dollar in New York in the week of April 6, 2008. Falling weekly gasoline inventories in USA and a weakening US dollar have kept oil prices afloat in the week. During the week, the dollar dropped on release of a government report showing that US economy lost jobs for a third consecutive month in March, raising concerns that the country is slipping into a recession. This led to a further fall in the value of the dollar against the euro, prompting investors to purchase commodities. Investors have moved money into commodities to hedge against inflation as returns outpaced those of financial markets.
Wednesday, April 09, 2008
Price trends of oil, polymer feedstock and commodity polymers in Asia for t...
Subscribe to:
Post Comments (Atom)
0 comments:
Post a Comment