Forexyard analysis - Oil Goes Bullish on Weak Dollar

This is a discussion on Forexyard analysis - Oil Goes Bullish on Weak Dollar within the Forex News & Analysis forums, part of the Forex Markets category; Oil prices reached over $59.50 a barrel yesterday, an increase of a whopping 4%. It seems that the OPEC production ...

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Forexyard analysis - Oil Goes Bullish on Weak Dollar

Oil prices reached over $59.50 a barrel yesterday, an increase of a whopping 4%. It seems that the OPEC production cuts have worked. Traders should also take into account that the Crude prices were also fueled yesterday by bullish stock markets and a weak Dollar. The price of Crude Oil is only likely to increase further today if the U.S. and Euro-Zone continue to show optimism, and the Dollar continues its bearish run.

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