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Finotec News Archive - March 09 2010

Crude oil steady around the $81 mark as traders await on recovery news

Crude’s Pool-position is 35% Long, meaning that most Finotec clients are selling the commodity

Tammy Wally
09 March 2010

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Crude oil steadied along with equities as energy traders looked to stocks for signals of the strength of an economic recovery and fuel demand. Prices will probably fall to $60 a barrel during the fourth quarter of the year, Adam Sieminski, the chief energy economist at Deutsche Bank AG in Washington, said on Bloomberg Television. “The second half of the year could be weak because inventories are high, demand is still relatively weak, there’s plenty of supply and lots of OPEC spare capacity.” Crude Oil is trading at $81.70 as of 21:17pm, GMT, with a bearish trend. Crude’s Pool-position is 35% Long, meaning that most Finotec clients are selling the commodity.

Finotec Analysis Team
09 March 2010

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