Friday, November 6, 2009

Survey Oil were split over whether crude oil prices will rise or fall next week

Oil analysts and traders were split over whether crude oil prices will rise or fall next week, as investors focus on a weak dollar and ample product stockpiles.Fourteen of 35 respondents polled by Bloomberg News, or 40 percent, said futures will drop through Nov. 13. Fourteen more predicted that oil will rise, while seven said prices may be little changed. Last week, 44 percent of survey respondents said the market would fall.Brent crude oil for December settlement rose as much as 69 cents, or 0.9 percent, to $78.68 a barrel on the London-based ICE Futures Europe exchange. The contract was at $78.60 a barrel at 3:51 p.m. in Singapore.

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