Long dated oil contracts surge to almost $100 per barrel
Posted by: admin in Industry NewsFiled under: International markets, Industry, Options, Commodities, Oil
Sometimes you can get an indication of market trend by looking at the prices of futures contracts in the forward months. Oil futures contracts trade out as far a 2017. Oil futures contracts for the year 2017 are trading a just a shade under $100 per barrel, while spot crude was trading at $77.65 per barrel (spot prices are cash prices.)
The International Energy Bureau has said that last year’s spike of oil prices to $147 per barrel was a contributing factor in tipping the world into recession. It damaged trade balances, reduced household income and dampened growth, putting pressure on inflation and interest rates.
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Long dated oil contracts surge to nearly $100 per barrel originally appeared on BloggingStocks on Mon, 09 Nov 2009 14:40:00 EST. Please see our terms for use of feeds.
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