Fundamental Oil Report (2009-11-19)

19 November 2009 @ 04:00 am EDT

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AnalysisOil prices inclined yesterday as the dollar fell therefore supported oil prices since commodities are priced in dollars which meant that it became cheaper for investors. As investors entered oil markets boosted oil prices while also the U.S. economy released its EIA report showing that crude inventories fell while it was estimated to incline, therefore this meant that there is demand somewhat. The contract gained $0.44 closing at $79.58 while recording a high of $80.33 per barrel and a low of $78.67 per barrel. 

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