Tuesday, October 29, 2013

Crude Oil gains after satisfactory Industrial production results

WTI gains after Industrial production declining in U.S. reaching satisfactory levels counting the critical events in the period of late September and early October. A bit higher Industrial production than expected gave investors a hope in U.S economy again and increased the demand on WTI for trading which gave it a push to gain some points reaching $98.79 per barrel $1.01 per barrel higher than the day before - when recorded downward graph for the whole day - to stay on trading average $98.45 per barrel most of the day.  

Today, WTI started at the level of $98.42 per barrel almost the same range with yesterday’s average trading price swinging between $98.51 and $98.22 per barrel as day’s recorded high and low following the same bullish trend as 24 hours ago.

This upward wave expected to stay till the weekend waiting Chinas production index to know exactly what is the next move sense China decreased its crude oil bill of October so that what pulled oil prices down for this week.
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