Crude oil prices retreated on Monday after rising to the highest level since September 2008, where oil prices rose earlier to hit $113.55 a barrel amid the dollar’s weakness and renewed fears from the tension in the Middle East and North Africa, yet the lack of news in markets pushed oil prices lower again.
The general trend for crude oil prices remain to the upside, although some fears over the outlook of global growth continue to weigh down on sentiment in markets, and accordingly, we should expect to witness rising volatility for crude oil prices, especially since investors are waiting for important data this week from the United States.
Tuesday 14:00, the U.S. Conference Board will release the Consumer Confidence for the month of April, where consumer confidence reached 63.4 in March, while expectations signal that consumer confidence improved further in April to reach 64.7, as overall economic conditions improved.
Originally posted here
Read more about commodities technical analysis, commodities fundamental analysis and commodities news on CommoditiesMansion.com
About CommoditiesMansion.com:
www.CommoditiesMansion.com is a part of the Finance Mansion Network which operates global financial websites. Our goal is to provide our readers with the most accurate, quality and up-to-date technical analysis, fundamental analysis and news in order to assist them in making the right financial decisions.
The Finance Mansion Network includes www.FinanceMansion.com,www.ForexMansion.com, www.StocksMansion.com, www.CommoditiesMansion and many more.
