oil on bright side - Stock Market Forum, Penny Stocks, FOREX, NASDAQ, AMEX, NYSE, Live Chat

katie · #1 10-12-2009, 01:20 AM

Oil Market was bright yesterday. Crude prices rose as a government report showed an unexpected drop in the US crude supplies and also the dollar weakened against the Euro.

Jonathan Barratt, MD at Commodity Broking Services in Sydney said: “General weakness in the US is dollar is supporting oil. Oil “came off last night but is finding support today.”

Crude for November delivery up 63 cents to $70.20 a barrel in New York.

**BadThad** · #2 10-12-2009, 03:08 PM

I'm long oil, gas and refining....it's the safest bet any trader can make for the long term IMO.

katie · #3 10-20-2009, 01:02 AM

yea..its better to invest on commodity market rather than stocks I say...
My co-traders at gnutrade also are doing the same