Nymex Crude Rises on Falling Dollar - Impact?

.

Nymex Crude Rises on Falling Dollar - Impact?

On Friday, crude oil futures were lifted on a weaker Dollar Value and strong economic data. The strengthened value ended up helping fuel gain a late-day surge of purchasing in expiring gasoline and distillate contracts.

So then, is this good news? After all, the economic data has been good, and with crude oil fetching more funds, it is bound to be even better! Once would, then, like to think that it is a good development, but I would like to differ.

A 1.9% rise in the per barrel cost on the New York Mercantile Exchange might have given a boost to buying of contracts and delighted investors, but it is not a very good news for the general population, especially in the times when the recession hurt is still lingering on.

Also to be considered is the inverse relationship that the crude futures and the value of Dollar has. The weaker the Dollar, the higher the futures. Not a very good news for the economy!

What's more? The futures could rise further! But let's all try and take solace in the fact that at least the economy would swell!


Latest News

Microsoft’s Monday Announcements; Agreement with AOL to Move Display Ads, Sells
Phil Knight, Nike’s Co-Founder will Leave the Chairman’s Post Next Year
In spite of Introducing Several Stimulus, China’s Economy Indicates Weakness
Puerto Rico’s Financial Problems Grow Further as Report Says It Can no Longer Me
The Reckless Murderer, Detroit Women Killed Two of Her Own Children!
FTC’s Lawsuit Drives Sysco to Annul Buyout Deal with US Foods
Increasing Shark Attacks in North Carolina Beaches; Is Shark Fishing to be Blame
Solar Impulse Starts its Flight Across the Pacific Ocean
California Regulators Ordered San Francisco to Stop Diverting River During Droug
Supreme Court’s Ruling Says Same-Sex Marriage is Unconstitutional to be Banned b
MTA Sued by Comedy Duo for Rejecting to Put-up anti-Islamophobia Posters on Subw