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Re: BullsEye post# 1198

Saturday, 01/09/2010 10:30:12 AM

Saturday, January 09, 2010 10:30:12 AM

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The Labor Department report sent the dollar sharply lower early in the day and because crude is bought and sold in the U.S. currency, anyone holding euros could buy more oil.

Benchmark crude rose 9 cents to settle at $82.75 per barrel on the New York Mercantile Exchange.

Any bullish economic indicators and oil demand will pick up or at least the perception of it will. 2010 has a very strong outlook for oil IMO.
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