NEW YORK – Crude oil prices could penetrate the highest levels above $ 80 a barrel in trading Tuesday (20/10/2009). However, during the closing trading price of black gold thin corrected because the dollar strengthened. Strengthening oil prices that had occurred, triggered by reports of positive corporate performance.
As quoted from Assosiated Press, Wednesday (21/10/2009), price of oil could penetrate the $ 80 rate, 05 per barrel, but later fell 0.52 U.S. cents to as low as USD79, 09 per barrel for the November contract on the New York Mercantile trading Exchange (NYMEX).
Meanwhile, in London, the price of Brent oil fell 53 cents to $ 77 U.S. dollars, 24 per barrel on the ICE Futures. The increase is triggered by a positive going performance results Apple Inc. and Texas Instruments Inc. for third-quarter 2009.
But the dollar rose against other world currencies, so the impact on commodity prices including oil prices. If the weak U.S. dollar, the more it will invite investors to transact, whereas if a strong U.S. dollar will make the investors back.
