Commodity Daily News

Crude Oil Price Finds Support at $92.50

Crude Oil prices rose mildly after finding support near the $92.50 price mark Wednesday as sentiment appeared to favor a shift back into riskier assets and commodities. Interest rate differentials have come back into play and this has so far led several large investors and analysts to consider a shift back into the EUR and physical assets instead of the USD.

As investors sought risk, the value of crude oil, which has been seen plummeting all week, rose to a weekly high of $93.45 a barrel. A sudden dip in dollar values due to this week's risk sensitive environment has helped many investors move hesitantly back into assets like oil. Should Crude Oil sentiment hold steady this week, oil prices may continue to make gains, possibly reaching back towards $95 by Friday.