Home

 
India Bullion iPhone Application
  Quick Links
Currency Futures Trading

MCX Strategy

Precious Metals Trading

IBCRR

Forex Brokers

Technicals

Precious Metals Trading

Economic Data

Commodity Futures Trading

Fixes

Live Forex Charts

Charts

World Gold Prices

Reports

Forex COMEX India

Contact Us

Chat

Bullion Trading Bullion Converter
 

$ Price :

 
 

Rupee :

 
 

Price in RS :

 
 
Specification
  More Links
Forex NCDEX India

Contracts

Live Gold Prices

Price Quotes

Gold Bullion Trading

Research

Forex MCX India

Partnerships

Gold Commodities

Holidays

Forex Currency Trading

Libor

Indian Currency

Advertisement

 
PT: Oil prices strengthen above USD 74 in Asian trade
 
STAFF WRITER 10:11 HRS IST
Singapore, Feb 11 (AFP) Oil firmed up in Asian trade today as a weaker US dollar spurred buying in the commodity and investors waited for a closely watched report on US energy inventories.

New York's main futures contract, light sweet crude for delivery in March, rose 35 cents to USD 74.87 a barrel.

Brent North Sea crude for March delivery was up 26 cents to USD 72.80 a barrel.

"The dollar is weaker so that's pushing oil prices up," said Clarence Chu, an oil trader with Hudson Capital Energy in Singapore.

As oil is traded in US dollars, a weaker greenback makes the commodity cheaper to holders of other units, stimulating demand.

The euro regained some footing in Asian trade today as European Union leaders prepared for a summit aimed at preventing the crisis in debt-laden Greece from spreading.

The euro climbed to USD 1.3786 in Singapore morning trade from USD 1.
Source