Brent oil
2010-02-14,Weekly summary 8-12.02.2010
Brent oil was traded a little lower at $69,90 a barrel against Friday settlement on investors' worries that European debt may thwart a future recovery in fuel demand. Oil quotations were coping falls governing on equity markets and weakness of euro zone currency.
Brent oil was continuing it's rebound up to Thursday when was traded at $73.90 a barrel as investors took into account some positive signs according to Greece concern and what eventually build more robust demand for fuels. Additionally, lower than expected inflation data from China let investors think that the biggest Asian economy has less reasons to cool economy and appetite for oil , in consequence.
Brent oil dropped to $73.00 a barrel just on U.S currency rally and unexpected higher interest rates in China . Additionally investors were bombarded by market specialists prognosis that U.S oil inventories may gain. On the other hand U.S currency gained to 1.3660 against euro vanishing appeal of commodities as alternatives.
Some tech. Levels:
Res.: $75.30 - $80 - $82
Sup.: $71.50 - $69.8 - $65
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