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19 Dec 2013
Oil fueled to monthly highs at $99.17
FXstreet.com (Chicago) – Oil is boosted ahead of the closing of the American trading session reaching the $99.17 price.
After the release of mixed US economic results, oil continues advancing and reaches new session highs reaching the $99 zone and yet retracing to the $98.70 zone again. After the Federal Reserve’s decision to reduce the bond-buying program by $10 billion, the greenback strengthened and oil managed to pull off a visit above the $99 zone. With an optimistic outlook after the release of the Fed’s decision, the futures contract rises in price as more demand and growth are implied.
After the release of mixed US economic results, oil continues advancing and reaches new session highs reaching the $99 zone and yet retracing to the $98.70 zone again. After the Federal Reserve’s decision to reduce the bond-buying program by $10 billion, the greenback strengthened and oil managed to pull off a visit above the $99 zone. With an optimistic outlook after the release of the Fed’s decision, the futures contract rises in price as more demand and growth are implied.