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Commodity Daily News
Oil Once Again Above $100 a Barrel
Friday, 27 Jan 2012
The price of crude oil shot up yesterday, following positive European news that helped turn investors on to commodities. Typically the oil becomes more attractive to international investors when the euro increases in value. Yesterday was no exception, as the price of crude once again shot up to over $100 a barrel.
Today, traders will want to pay attention to the direction the euro takes as it is likely to dictate where the price of oil will head. Any further developments in Greece's attempt to close a debt swap deal will likely lead to positive gains for oil as trading closes for the weekend.
