Crude Drops As a Result of Strong Dollar, Chinese Policy

By IBTimes Staff Reporter | February 15 2010 6:16 AM

After dropping rather significantly in trading late last week, crude is slightly up today as markets are still absorbing the new Chinese monetary policy. These modest gains are not forecasted to last. With China set to further tighten its banking policies, investor sentiment toward commodities in general is down. Furthermore, a higher then expected result from an American oil inventories report last week did not help the price of crude in trading. Forex traders may want to think twice before entering into any crude oil positions, at least until a clearer picture of the market place emerges.

Sponsorship Link

More in Commodities

Brent Lower on Ample Supply and Waning Demand

Brent Lower on Ample Supply and Waning Demand

Energy - Balancing the Bonanza: Interview with Mark Thoma

Energy - Balancing the Bonanza: Interview with Mark Thoma

Brent Slips Toward $100 on Strong Dollar and Weak Chinese PMI

Brent Slips Toward $100 on Strong Dollar and Weak Chinese PMI

Brent Dips on US Demand Woes

Brent Dips on US Demand Woes

In Depth

Cruise Passengers Get ‘Bill Of Rights,’ But Critics Are Skeptical Of The Wording

Dear Cruise Passengers: Here’s Your New ‘Bill Of Rights’

Obama Heckler Medea Benjamin Of Code Pink Acknowledged During President's Drone Speech: 'That Woman Is Worth Listening To' [VIDEO, PHOTO]

Obama, With Deft Words, Copes With Heckler During Drone Speech

Westboro Baptist Church's 'God Hates Oklahoma' Site Hacked In Hilarious Fashion

Westboro's 'God Hates Oklahoma' Site Hacked For Good

Joe Biden's UPenn Commencement Address Upsets Chinese International Students

UPenn's Chinese Students Demand Biden Apologize For Graduation Speech

web counter