Oil hits six month high

Posted by TradingForexProfit | 4:32 PM | | 1 comments »

Oil hit a high of 63$ a barrel, after Saudi Arabia oil minister said the demand was increasing. 


When we think about the fact that just 5 months ago, at the turn of the year, Oil was trading at around $32 a barrel, that's almost a 100% increase in price. 

Demand for Oil is picking up, that's a sign of optimism, Ali Naimi said, especially in Asia. 

Opec is widely expected to keep the oil cartel's production steady when it meets tomorrow in Vienna. Opec produces 40% of the world's oil

1 comments

  1. Herman C. // June 2, 2011 at 7:58 PM  

    I have really been thinking about oil, but I think I will go for gold...





    Finance Dummy
    FxTrading and Make Money online