Oil closed yesterday’s just above $96 a barrel after a very volatile trading session. The market contributions to oil demand are limited in comparison with the effects of tensions from Iran and the surge in the price of corn.
Commodities traders pushed oil down yesterday after mixed results from US financial statements. Inflation seems to be a better instigator for the rise of gold than for future oil demands.
The weaker dollar, which currently has just a small contribution to the appreciation of oil, is also under great pressure and has not been able to bring the price of oil to challenge the resistance of $100 a barrel.

Oil closed yesterday above $97 a barrel and has almost reached highs seen last at the start of May. Many factors have been contributing to the appreciation of oil which we’ve witnessed over these past few weeks.
Tensions from the Middle East have pushed the price of oil upwards as Iran is in the spotlight for its nuclear program and the major global banks are under scrutiny because of their business relationship with the country.

Oil closed yesterday very close to $97 a barrel. It seems to be closer to a profit taking session which would take the price down than a flirt with the $100 a barrel resistance level.
Stable economic statements from the EU and the US have stabilized the price of oil above $95 a barrel and a strong EUR/USD has also contributed to high oil levels.
There is a chance of profit taking today from oil investors and from the EU indices if no further firm results are presented today from financial executives.

Oil closed yesterday at $96 a barrel and is awaiting news from Europe and the US as executives will meet later this week.
It seems that $100 a barrel is the next strong resistance level for oil so investors can expect price to move in a very volatile manner over the next few days.
Good results from Asia combined with stimulus expectations from China will contribute to future oil appreciation. The earnings report season is almost over and indices from the EU and the US are in excellent positions, making it easier for oil to rise in the midst of tensions from the Middle East.

Oil closed on Friday at $96 a barrel levels following a positive trading session. This occurred after good financial reports from Europe showing that trade balance in the Eurozone has risen almost twice what was expected.
Good news about Europe’s economy, especially from its exporters who proved to have great results, comes as a big boost for the future demand expectations for oil.
Alongside the rise in the price of oil, EU indices have continued their incline.