By FX Empire.com
Crude oil prices rose on Thursday, following fresh developments in the Euro Zone along with new updates over the U.S economy this morning, after Lucas Papademos was named to be interim prime minister ofGreece, the U.S jobless claims fell to its lowest since April and U.S trade deficit narrowed in September.
The outlook for crude oil though has become highly uncertain, since the sentiment in markets has become the major market mover for crude oil prices, but overall, we still expect crude oil prices to remain under pressure, since signs of weak global growth continue to emerge. Moreover, the uncertainty that continues to surround the outlook of the European debt crisis could also put negative pressure on crude oil prices over the coming period.
Friday November 11:
At 14:55 GMT the University of Michigan confidence for November is expected with a rise to 61.5 from 60.9.
Originally posted here
