Crude Oil Price trading higher on marginally weak Dollar - ICICI Bank : Treasury Research

Crude oil prices are trading higher today on the back of a marginally weak Dollar. Meanwhile, concerns over supply disruption due to political tensions in Middle East also supported the prices. WTI is trading at 15-month high and Brent rose above the USD 109/bbl level intraday. The front-month WTI future is currently trading at USD 108.54/bbl compared to prior close of USD 108.04/bbl while Brent is trading at USD 108.95/bbl, compared to prior close of USD 108.7/bbl.

Gold prices are trading higher today amidst news that the physical purchases of the metal have picked up in China and Japan. Meanwhile, Fed Chairman Bernanke's reiteration of the need for accommodative monetary policy, coupled with a weaker greenback, also aided gold prices. Spot gold is currently trading at USD 1292/oz as compared to yesterday's close of USD 1284.23/oz.

Source : Equity Bulls

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