Thursday, April 7, 2011

Oil moves past $110 a barrel on earthquake in Japan and falling dollar

April 7th, 2011 1:49 pm ET
Oil moved over $110 on April 7th, and is up over $1.21 as news from Japan came in of another earthquake that shocked the mainland earlier this morning.  The price has also risen against the falling dollar as new European Union (ECB) rate increases have made the Euro the strongest against the dollar in several months.
There are many stong indications that today's rise in price will continue in the market.  Brent Crude has risen over $120 a barrel since last week, and a report that came out of Saudi Arabia predicted that oil could go as high as $200 to $300 a barrel should ongoing Middle Eastern turmoil cross over into the kingdom nation.


Post a Comment

Subscribe to Post Comments [Atom]

<< Home