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| Crude Oil Stengthens Despite Recent Losses Posted: 20 Apr 2012 07:19 AM PDT
Crude oil prices appreciated during Friday’s trading after figures showed that business confidence in Germany, the Euros strongest economic nation, has increased more then expected. German Ifo Business climate index, based on a survey of 7000 business executives,climbed to 109.9 from March’s figure of 109.8. Despite the commodity showing gains for the first time in three trading days, its possible that crude could experience some downward movement during next weeks trading on worries over the slowing U.S economy,which in turn, would reduce the demand for crude oil amongst other commodities. The latest developments in Iran could also have an impact on crude prices amid speculation that tension with the Middle East nation will ease. |
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