09 března 2009

9/3 Crude Oil climbs 1.80%

Crude oil climbed 1.80% trading at $46.40 in Asia trading hours on speculation that OPEC on the 15th March will decide to reduce their output. OPEC delivers about 40% of the world’s oil. Since September 2008 they have cut the production three times.

In Fridays late session Crude oil gained more than 4.4% after a worse-than-expected U.S. jobless report weakened the dollar and increased the appeal of commodities.

Support: 44.20 42.60 41.80
Resistance: 47.60 48.50 50.00

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