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Reply #17: Oil jumps, in part due to weak dollar [View All]

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UpInArms Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Aug-05-09 07:12 AM
Response to Reply #3
17. Oil jumps, in part due to weak dollar
Well, lookie here! someone finally bought a clue! /

COLUMBUS, Ohio - Oil and natural gas prices rose sharply yesterday on the weakening dollar and on new signs of life from manufacturers that suggest the recession might be loosening its grip.

Benchmark crude for September delivery rose 3 percent, or $2.13, to settle at $71.58 a barrel on the New York Mercantile Exchange. It was the third straight day of substantial increases on the energy futures markets and the first time in a month crude traded above $70.

Retail gasoline prices rose overnight yet again.

Natural gas, a major source of power generation, spiked by more than 9 percent on a day when both China and the United States reported stronger manufacturing activity.

Crude has been rising for the past several weeks on the US dollar’s downward trend.

The dollar index reached its lowest point since September against the euro yesterday.

Money floods into equities markets when the dollar falls because products like crude are priced in the US currency. Oil can be used as a hedge against inflation, and it becomes cheaper when the dollar falls.

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  -STOCK MARKET WATCH, Wednesday August 5 ozymandius  Aug-05-09 05:34 AM   #0 
  - Market Observation  ozymandius   Aug-05-09 05:40 AM   #1 
  - Today's Reports  ozymandius   Aug-05-09 05:43 AM   #2 
  - AD{ (joke report) employment index down 371,000  UpInArms   Aug-05-09 07:22 AM   #20 
  - July ISM non-manufacturing falls to 46.4% - June factory orders rise 0.4%  UpInArms   Aug-05-09 10:55 AM   #23 
  - Petroleum Inventories Report  UpInArms   Aug-05-09 10:58 AM   #24 
  - Oil slips to near $71 amid mixed US economic news  ozymandius   Aug-05-09 05:45 AM   #3 
  - Oil jumps, in part due to weak dollar  UpInArms   Aug-05-09 07:12 AM   #17 
  - European markets higher on earns, volume light  ozymandius   Aug-05-09 05:47 AM   #4 
  - Lloyds posts loss as bad debts hit 13 billion pounds  ozymandius   Aug-05-09 05:49 AM   #5 
  - SEC moving toward banning flash orders  ozymandius   Aug-05-09 05:54 AM   #6 
  - How is Goldman Sachs going to make a profit?  rfranklin   Aug-05-09 06:01 AM   #7 
  - The old-fashioned way.  Dr.Phool   Aug-05-09 06:58 AM   #12 
  - He Should Write the Legislation, Too  Demeter   Aug-05-09 06:54 AM   #10 
  - Still no mention about how the "some brokerages" pay for the access to do HFT.  Hugin   Aug-05-09 09:31 AM   #21 
  - Run for the Hills: Fed Plans to Build on Sham Stress Tests as Basis for Regulation  ozymandius   Aug-05-09 06:26 AM   #8 
  - It's Worse Than That  Demeter   Aug-05-09 06:57 AM   #11 
  - So the Banks get 'single payer'?  Hugin   Aug-05-09 09:37 AM   #22 
     - You are on a roll today  Hawkowl   Aug-05-09 11:30 AM   #26 
        - Since I posted that comparison, I've learned the name for the scam is "Front Running".  Hugin   Aug-05-09 12:09 PM   #27 
           - Indeed  Hawkowl   Aug-05-09 12:43 PM   #29 
              - I have one small correction to my previous post, tho.  Hugin   Aug-05-09 06:07 PM   #33 
  - Resource: Failed Bank List with Enforcement Documents  ozymandius   Aug-05-09 06:52 AM   #9 
  - Thanks, Ozy! I can use this kind of information.  Demeter   Aug-05-09 07:00 AM   #14 
     - Good morning.  ozymandius   Aug-05-09 07:19 AM   #18 
  - The Role of an Engineer, As Seen By Dilbert  Demeter   Aug-05-09 06:59 AM   #13 
  - As an Engineer, this hits to close to home  MARALE   Aug-05-09 11:23 AM   #25 
     - Because the Truth Hurts (Sales)  Demeter   Aug-05-09 05:41 PM   #31 
  - Debt: 08/03/2009 11,648,548,144,569.76 (DOWN 20,703,204,934.89) (Down 5B.)  Festivito   Aug-05-09 07:01 AM   #15 
  - Debt: 08/04/2009 11,659,644,290,011.89 (UP 11,096,145,442.13) (Down .05B.)  Festivito   Aug-05-09 06:39 PM   #35 
  - dollar watch  UpInArms   Aug-05-09 07:10 AM   #16 
  - The Adam Smith/Paul Krugman Show!  hamerfan   Aug-05-09 07:19 AM   #19 
  - Goldfellas has unprecedented Q2 trading record  Hawkowl   Aug-05-09 12:32 PM   #28 
  - The "key psychological level of 1000 on the S&P" isn't key to anything  mullard12ax7   Aug-05-09 12:51 PM   #30 
  - TAE: Does oil have an effect on the financial crisis?  DemReadingDU   Aug-05-09 06:00 PM   #32 
  - Eh, I'm not sure I completely agree with this...  Hugin   Aug-05-09 06:29 PM   #34 
  - August bulletin of Nat'l. Assoc. of Credit Men optimistic  Zenlitened   Aug-05-09 07:30 PM   #36 

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