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Jun

22

Crude oil slides in CFD trading

June 22nd, 2010

Crude oil fell for the first time in three days today (June 22nd), as optimism the global economic recovery would be strengthened by China’s increased flexibility of the yuan depleted.

Bloomberg reports that crude for delivery in July dipped by 88 cents in CFD trading , or 1.1 per cent, to $76.94 (£52.20) a barrel in electronic trading on the New York Mercantile Exchange at 10:16 BST.

There is some concern that growth in Europe and China will be slow, leading Goldman Sachs Group to lower its price forecasts for crude oil due to the ‘fragile’ market.

"Commodity markets are generally rebounding strongly off their lows but sentiment remains fragile on European and Chinese concerns," said analysts led by New York-based Allison Nathan.

Yesterday, US crude oil for July delivery rose to $78.45 following a $1.27 increase on trading platforms, the highest level since May 6th.

The American Petroleum Institute is scheduled to release its supply report today.

Tags: cfd trading, crude oil

This entry was posted on Tuesday, June 22nd, 2010 at 11:58 and is filed under CFD News, Trading News. You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.

One Response to “Crude oil slides in CFD trading”

Andrew A. Sailer says:

June 28, 2010 at 20:03

like your site will visit again

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