Oil future trend is highly dependent on the Saudi Arabia meeting on Sunday between consumers and producers, where they will discuss hiking oil prices Joana Fonseca 20 June 2008
US crude oil futures lost more than $4 a barrel yesterday after China had signal it will raise fuel prices, leading to concerns it would decrease oil demand. However, oil increased on the early trading, after a report showed Israel is preparing a bombing attack on nuclear facilities in Iran, OPEC’s second larger producer. Crude oil traded at $133.27 a barrel at 8:00am GMT. Oil future trend is highly dependent on the Saudi Arabia meeting on Sunday between consumers and producers, where they will discuss hiking oil prices. Finotec Analysis Team20 June 2008
US crude oil futures lost more than $4 a barrel yesterday after China had signal it will raise fuel prices, leading to concerns it would decrease oil demand. However, oil increased on the early trading, after a report showed Israel is preparing a bombing attack on nuclear facilities in Iran, OPEC’s second larger producer. Crude oil traded at $133.27 a barrel at 8:00am GMT. Oil future trend is highly dependent on the Saudi Arabia meeting on Sunday between consumers and producers, where they will discuss hiking oil prices. Finotec Analysis Team20 June 2008
