Saturday, September 17, 2011

Oil prices – Weekly recap 12-16 September

Crude oil prices changed directions throughout the week, but by the end of the
week, much like gold and silver prices, they havent change much compared with
crude oil prices at the end of last week. The sharp gains in the US and European
stock markets may have provided some back-wind for crude oil prices to rise: the
S&P500 index added to its value 4.62% during the week. The depreciation of the
US dollar against major currencies may have also assisted in keeping crude oil
prices high; on the other hand, there were several reports that may have helped
pull down crude oil prices including: the recent Philly Fed Index that showed a
negative outcome in August, the IEA

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