US Oil May Retest $100 as 'Stimulus Drums' Beat Louder: Survey
Oil prices will likely gain this week on expectations that the U.S. Federal Reserve may announce additional stimulus to help boost an anemic recovery in the world's largest economy while markets are looking towards the European Central Bank to suppress unsustainably high sovereign borrowing costs in Spain and Italy, according to CNBC's weekly survey of oil market sentiment.
The risk-on rally in global financial markets started on Thursday after ECB President Mario Draghi vowed that "within our mandate, the ECB is ready to do whatever it takes to preserve the euro," adding "believe me, it will be enough."
Commodities rose the most in over a week on Friday but growing hopes for further global stimulus came too late to prevent the sector's first weekly decline in over a month, Reuters reported. Oil rose for a fourth day, gold neared its highest since early May and copper rose more than 1 percent. U.S. stocks climbed 2 percent.
Brent September crude [LCOCV1 106.03 -0.44 (-0.41%)] rose $1.21 to settle at $106.47 a barrel on Friday but recorded a 36-cent loss for the week after four straight weekly gains.
Front-month crude-oil futures at the New York Mercantile Exchange settled at $90.13 a barrel on Friday, up 74 cents, or 0.8 percent.
Posted: 05/15/2013 04:12:00
Posted: 05/17/2013 08:09:00
Posted: 05/09/2013 02:52:00
CIO Midmarket Summit
LOCATION: Miami, FL || A forum for innovative technology leaders in the midmarket segment. June 2-4, 2013 For more information...Jun 2, 2013
Northwest Middle Market Conference
LOCATION: Seattle, WA || The annual conference is the largest of its kind in the Northwest and has becomeAug 1, 2013
Middle Market Americas Conference 2013
The middle market is the growth engine of the future for economies in the Americas. While this segment is alreadySep 13, 2013
Midsize Enterprise Summit West 2013
LOCATION: Phoenix, AZ || Today’s Midsize Enterprise CIOs are tackling their toughest challenges ever in face of a tech landscapeSep 22, 2013
National Summit for Middle Market Funds
The Summit offers a unique environment to connect with fund managers, limited partners, investment bankers and select service providers overOct 13, 2013