Wednesday, January 19, 2011

Commodities Outlook | 19 January 2011

Commodities Outlook | 19 January 2011

U.S. crude for March delivery edged higher above $92.50 a barrel on Wednesday morning. Any rise in crude will continue to be under scrutiny given the reopening of Alaska’s main pipeline. There are also rumours that OPEC has raised output in response to higher oil prices. There is a general feeling that many do not want the price of crude to push higher. Crude was trading at $92.65 this morning with support seen at $91.65/$91.20. Read more