Energy Market

By May 18, 2008 08:00PM ET

www.investing.com/analysis/ibov,-bbas3,-bbdc4,-bisa3,-cesp6,-elpl4---suporte.-7005

Energy Market

By | May 18, 2008 08:00PM ET

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Friday, crude oil prices recorded another all time record high of $127.82 per barrel as China increased its demand for imported diesel while is projected to rise even higher in June. China which is known to be the second largest energy consumer is stocking up on diesel fuel due to the upcoming Olympic Games even after the earthquake damaging roads and hydroelectric plants.

A major support to crude prices rally was the greenback losing strength in the market as the last weeks US economic data negatively affected the dollar. As investors saw this, they turned more of their investment to the crude oil market as they saw it as a hedge against inflation and the falling dollar. The contract gained $2.17 as it closed at $126.29 while recording a low of $124.04 per barrel.

Still the markets remain bullish even after Saudi Arabia decided on increasing oil production by 300,000 while Iran the world’s fourth largest crude exporter will not raise production since they believe it will not east prices.

As it was expected in the markets that over the weekend President Bush would be in the middle east trying to convince OPEC what high crude prices so far have done to economies so they would pump more oil, and despite the fact they did, crude prices still remain to the upside. Today, the markets opened at $126.35 while recording a high of $127.04 per barrel and a low of $126.22 per barrel.

As crude prices continue to add to economies inflationary pressures, investors remain calm as they make profits while consumers fear the rise in prices as there is currently a global slowdown. Again the focus is still on supply and demand factors while today the USD is still weak and we see a surge in crude oil prices as economies resume demanding energy products despite the massive rise in prices.

Support	125.78	124.80	123.84	122.66	121.52
Resistance	126.94	127.42	128.23	129.04	129.95
Recommendation

Crude oils falls and may reach $32 as demand diminishes By Finotec - Dec 30, 2008

Confidence among U.S. consumers sank to the lowest level in at least 41 yearsCrude oil fell heading for a record annual drop, on speculation that U.S. fuel stockpiles are...

STERLING REPORT By Forex Datasource - Nov 30, 2008

Current Environment Sterling posted a strong 4.8% weekly gain against the USD and closed slightly below a resistance line dating back to late Sep 2008. Like the euro, cable...

Avantage Financial - Forex Daily Report By Avantage Financial GmbH - Nov 27, 2008

In this PDF you will find the latest technical analysis published by Avantage Financial

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Central Banks

Interest Rates

Next Meeting

FED

4.50%

Mar 19, 2025

ECB

2.90%

Mar 06, 2025

BOE

4.50%

Mar 20, 2025

SNB

0.50%

Mar 20, 2025

RBA

4.10%

Apr 01, 2025

BOC

3.00%

Mar 12, 2025

RBNZ

3.75%

Apr 09, 2025

BOJ

0.50%

Mar 19, 2025

CBR

21.00%

Mar 21, 2025

RBI

6.25%

Mar 10, 2025

PBOC

3.10%

BCB

13.25%

Mar 19, 2025

US 30	43,554.4	+120.1	+0.28%
US 500	5,979.5	+23.3	+0.39%
Dow Jones	43,433.12	-188.04	-0.43%
S&P 500	5,956.06	+0.81	+0.01%
Nasdaq	19,075.26	+48.88	+0.26%
S&P 500 VIX	19.10	0.00	0.00%
Dollar Index	106.610	+0.281	+0.26%

Crude Oil WTI	68.78	+0.16	+0.23%
Brent Oil	72.30	+0.23	+0.32%
Natural Gas	3.982	+0.025	+0.63%
Gold	2,905.49	-25.11	-0.86%
Silver	31.940	-0.332	-1.03%
Copper	4.5590	-0.0218	-0.48%
US Soybeans	1,027.75	+3.25	+0.32%

U.S. 10Y	4.281	+0.032	+0.75%
U.S. 30Y	4.532	+0.025	+0.55%
U.S. 5Y	4.106	+0.029	+0.71%
U.S. 3M	4.309	+0.008	+0.19%
US 10Y T-Note	110.64	-0.20	-0.18%
Euro Bund	132.82	+0.15	+0.11%
10-2 Yield Spread	19.61	-2.98	-13.19%

Apple	240.36	-6.68	-2.70%
Alphabet A	172.73	-2.69	-1.53%
Tesla	290.80	-12.00	-3.96%
Amazon.com	214.35	+1.55	+0.73%
Netflix	990.06	+12.82	+1.31%
Meta Platforms	673.70	+16.20	+2.46%
Bank of America	43.94	0.00	0.00%

Energy Market

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