Dominion Lending Centres Clearlease Reports Oil rebounds from last week’s 15 per cent plunge as U.S. dollar weakens
VANCOUVER, BC – (May 9, 2011) Clearlease Reports Investors are buying oil again Monday after last week’s plunge, pushing prices up over two per cent Monday to more than US$99 a barrel.
Last week oil fell 15 per cent, its steepest drop in two and a half years, in part because the U.S. dollar strengthened. This makes oil more expensive for those with other currencies.
Monday the dollar weakened slightly against the euro as investor were less fearful that Greece would leave the Eurozone and further weaken the euro.
That sent investors back to oil. In morning trading on the New York Mercantile Exchange, benchmark crude for June delivery was up $2.06, or 2.1 per cent, at US$99.24 a barrel.
“The sea change last week was the increase in the value of the dollar and the decrease of the euro,” said Phil Flynn, analyst at PFG Best in Chicago. “What’s driving us back and forth today is the negotiations on Greece.”
Analysts say financial news from Greece and Europe will likely keep currency markets volatile. Oil and other commodities priced in dollars will follow.
When the dollar falls, investors tend to buy commodities hoping they will gain value as the dollar weakens. When the dollar rises, investors tend to sell commodities.
Last week the European Central Bank signalled that the bank might not raise interest rates in June as investors had expected, leading to a sell-off in the euro. Then, Friday, a magazine report suggested Greece might abandon the euro.
But European Union officials suggested they may provide Greece more help, easing investor fears and leading to a rebound in the value of the euro. This was despite a downgrade of Greece’s debt further into junk status Monday by the rating agency Standard & Poor’s.
Analysts say last week’s plunge in oil and other commodities may only provide short-term relief from high prices.
The recovering U.S. economy and the growing economies of Asia will increase demand for energy and raw materials in the coming years.
“The fundamental backdrop in the market remains entirely unaltered, with global oil demand still showing continued strength,” Barclays Capital said in a report. “The general (oil price) trend from here should be higher, rather than lower.”
In London, Brent crude for June delivery was up $2.83, or 2.6 per cent, at US$111.96 a barrel on the ICE Futures exchange.
In other Nymex trading in June contracts, heating oil rose 7.2 cents to US$2.9182 a U.S. gallon (3.78 litres) and wholesale gasoline added 12.44 cents to US$3.2145 a gallon. Natural gas futures fell 0.3 cent at US$4.294 per 1,000 cubic feet.
(TSX:ECA), (TSX:IMO), (TSX:SU), (TSX:HSE), (NYSE:BP), (NYSE:COP), (NYSE:XOM), (NYSE:CVX), (TSX:CNQ), (TSX:TLM), (TSX:COS.UN), (TSX:CVE)
For more information please visit us at: http://www.clearlease.com/Career-Opportunities.html
About Dominion Lending Centres Clearlease
Dominion Lending Centres Clearlease Commercial (DLC Clearlease/Clearlease.com) is a fully diversified Lease Finance Mortgage Banking Brokerage Company specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending/Mortgage Financing. DLC Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.
Equipment Lease Financing in Vancouver, Surrey, Delta, Richmond, Langley, New Westminster, North Vancouer, West Vancouver, B.C. Also offering Automobile Lease Financing and Mortgage information. Founded by the Pidgeon brothers.
You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.
Contact DLC Clearlease.com:
Dominion Lending Centres Clearlease
HEAD OFFICE, Bentall Two, Suite 900, 555 Burrard Street, Vancouver, BC, V7X 1M8, CANADA.
Mr. Alexander Pidgeon, Editor in Chief
Tel: (604) 696-1221 ext. 199
eMail: [email protected]
Website: http://www.clearlease.com
News: http://clearlease.com/category/equipment-lease-blog/feed/rss
Twitter: @clearlease
###
Video Link: http://youtu.be/f_kk7WJa7Uk
VANCOUVER, BC – (May 9, 2011) Clearlease Reports Investors are buying oil again Monday after last week’s plunge, pushing prices up over two per cent Monday to more than US$99 a barrel.
Last week oil fell 15 per cent, its steepest drop in two and a half years, in part because the U.S. dollar strengthened. This makes oil more expensive for those with other currencies.
Monday the dollar weakened slightly against the euro as investor were less fearful that Greece would leave the Eurozone and further weaken the euro.
That sent investors back to oil. In morning trading on the New York Mercantile Exchange, benchmark crude for June delivery was up $2.06, or 2.1 per cent, at US$99.24 a barrel.
“The sea change last week was the increase in the value of the dollar and the decrease of the euro,” said Phil Flynn, analyst at PFG Best in Chicago. “What’s driving us back and forth today is the negotiations on Greece.”
Analysts say financial news from Greece and Europe will likely keep currency markets volatile. Oil and other commodities priced in dollars will follow.
When the dollar falls, investors tend to buy commodities hoping they will gain value as the dollar weakens. When the dollar rises, investors tend to sell commodities.
Last week the European Central Bank signalled that the bank might not raise interest rates in June as investors had expected, leading to a sell-off in the euro. Then, Friday, a magazine report suggested Greece might abandon the euro.
But European Union officials suggested they may provide Greece more help, easing investor fears and leading to a rebound in the value of the euro. This was despite a downgrade of Greece’s debt further into junk status Monday by the rating agency Standard & Poor’s.
Analysts say last week’s plunge in oil and other commodities may only provide short-term relief from high prices.
The recovering U.S. economy and the growing economies of Asia will increase demand for energy and raw materials in the coming years.
“The fundamental backdrop in the market remains entirely unaltered, with global oil demand still showing continued strength,” Barclays Capital said in a report. “The general (oil price) trend from here should be higher, rather than lower.”
In London, Brent crude for June delivery was up $2.83, or 2.6 per cent, at US$111.96 a barrel on the ICE Futures exchange.
In other Nymex trading in June contracts, heating oil rose 7.2 cents to US$2.9182 a U.S. gallon (3.78 litres) and wholesale gasoline added 12.44 cents to US$3.2145 a gallon. Natural gas futures fell 0.3 cent at US$4.294 per 1,000 cubic feet.
(TSX:ECA), (TSX:IMO), (TSX:SU), (TSX:HSE), (NYSE:BP), (NYSE:COP), (NYSE:XOM), (NYSE:CVX), (TSX:CNQ), (TSX:TLM), (TSX:COS.UN), (TSX:CVE)
For more information please visit us at: http://www.clearlease.com/Career-Opportunities.html
About Dominion Lending Centres Clearlease
Dominion Lending Centres Clearlease Commercial (DLC Clearlease/Clearlease.com) is a fully diversified Lease Finance Mortgage Banking Brokerage Company specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending/Mortgage Financing. DLC Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.
Equipment Lease Financing in Vancouver, Surrey, Delta, Richmond, Langley, New Westminster, North Vancouer, West Vancouver, B.C. Also offering Automobile Lease Financing and Mortgage information. Founded by the Pidgeon brothers.
You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.
Contact DLC Clearlease.com:
Dominion Lending Centres Clearlease
HEAD OFFICE, Bentall Two, Suite 900, 555 Burrard Street, Vancouver, BC, V7X 1M8, CANADA.
Mr. Alexander Pidgeon, Editor in Chief
Tel: (604) 696-1221 ext. 199
eMail: [email protected]
Website: http://www.clearlease.com
News: http://clearlease.com/category/equipment-lease-blog/feed/rss
Twitter: @clearlease
###
Video Link: http://youtu.be/f_kk7WJa7Uk
Dominion Lending Centres Clearlease Reports Oil rebounds from last week’s 15 per cent plunge as U.S. dollar weakens
VANCOUVER, BC – (May 9, 2011) Clearlease Reports Investors are buying oil again Monday after last week’s plunge, pushing prices up over two per cent Monday to more than US$99 a barrel.
Last week oil fell 15 per cent, its steepest drop in two and a half years, in part because the U.S. dollar strengthened. This makes oil more expensive for those with other currencies.
Monday the dollar weakened slightly against the euro as investor were less fearful that Greece would leave the Eurozone and further weaken the euro.
That sent investors back to oil. In morning trading on the New York Mercantile Exchange, benchmark crude for June delivery was up $2.06, or 2.1 per cent, at US$99.24 a barrel.
“The sea change last week was the increase in the value of the dollar and the decrease of the euro,” said Phil Flynn, analyst at PFG Best in Chicago. “What’s driving us back and forth today is the negotiations on Greece.”
Analysts say financial news from Greece and Europe will likely keep currency markets volatile. Oil and other commodities priced in dollars will follow.
When the dollar falls, investors tend to buy commodities hoping they will gain value as the dollar weakens. When the dollar rises, investors tend to sell commodities.
Last week the European Central Bank signalled that the bank might not raise interest rates in June as investors had expected, leading to a sell-off in the euro. Then, Friday, a magazine report suggested Greece might abandon the euro.
But European Union officials suggested they may provide Greece more help, easing investor fears and leading to a rebound in the value of the euro. This was despite a downgrade of Greece’s debt further into junk status Monday by the rating agency Standard & Poor’s.
Analysts say last week’s plunge in oil and other commodities may only provide short-term relief from high prices.
The recovering U.S. economy and the growing economies of Asia will increase demand for energy and raw materials in the coming years.
“The fundamental backdrop in the market remains entirely unaltered, with global oil demand still showing continued strength,” Barclays Capital said in a report. “The general (oil price) trend from here should be higher, rather than lower.”
In London, Brent crude for June delivery was up $2.83, or 2.6 per cent, at US$111.96 a barrel on the ICE Futures exchange.
In other Nymex trading in June contracts, heating oil rose 7.2 cents to US$2.9182 a U.S. gallon (3.78 litres) and wholesale gasoline added 12.44 cents to US$3.2145 a gallon. Natural gas futures fell 0.3 cent at US$4.294 per 1,000 cubic feet.
(TSX:ECA), (TSX:IMO), (TSX:SU), (TSX:HSE), (NYSE:BP), (NYSE:COP), (NYSE:XOM), (NYSE:CVX), (TSX:CNQ), (TSX:TLM), (TSX:COS.UN), (TSX:CVE)
For more information please visit us at: http://www.clearlease.com/Career-Opportunities.html
About Dominion Lending Centres Clearlease
Dominion Lending Centres Clearlease Commercial (DLC Clearlease/Clearlease.com) is a fully diversified Lease Finance Mortgage Banking Brokerage Company specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending/Mortgage Financing. DLC Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.
Equipment Lease Financing in Vancouver, Surrey, Delta, Richmond, Langley, New Westminster, North Vancouer, West Vancouver, B.C. Also offering Automobile Lease Financing and Mortgage information. Founded by the Pidgeon brothers.
You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.
Contact DLC Clearlease.com:
Dominion Lending Centres Clearlease
HEAD OFFICE, Bentall Two, Suite 900, 555 Burrard Street, Vancouver, BC, V7X 1M8, CANADA.
Mr. Alexander Pidgeon, Editor in Chief
Tel: (604) 696-1221 ext. 199
eMail: [email protected]
Website: http://www.clearlease.com
News: http://clearlease.com/category/equipment-lease-blog/feed/rss
Twitter: @clearlease
###
Video Link: http://youtu.be/f_kk7WJa7Uk