Analysts at Kuala Lumpur based trading advisory firm Ameer Global suggest oil prices will continue to rise due a number of factors including the value of the dollar and oil stockpiles
Kuala Lumpur, Malaysia -- (SBWIRE) -- 10/24/2013 -- The price of oil has been rising over the last few weeks as stockpiles in the United States have declined by over 20 million barrels during the last two weeks according to data from the Energy Information Administration. “We believe at www.ameer-global.com that the potential exists for American crude oil stockpiles to drop even further which will of course push the price up and create a gap between supply and demand. The strain on American stockpiles is coming from the summer driving season, Americans use heating oil to warm up their houses and they also take long driving holidays. Prices have risen as the dollar weakened against the Euro, making crude an appealing alternative investment.” stated Analyst, David Sommers.
Another contributing factor to the rise in price of oil, is the increasing cost of living in the United States which made its biggest jump in four months in June. The consumer-price index increased half a percent, mainly due to the two-thirds gain in gasoline.
“We believe it is time for heating oil right now, as the cold season approaches and this winter is expected to be of the coldest winters over the last 100 years as many forecasts are predicting. The demand started to go up already and we expect the prices to jump higher and higher due to the limited supply”, David Sommers added.
About Ameer Global
Ameer-Global.com is a futures and options trading advisory firm located in Kuala Lumpur, Malaysia. Whether your location is Asia, Europe, Australia, Latin America, US, Canada, or Latin America or anywhere around the world, Ameer Global gives you no minimum account size access to commodity futures and options markets world wide.? Ameer Global works to find solutions that fit you or your business. Ameer Global assists many different types of clients: advisers managing inherent price risk in physical and financial commodities, from crude oil to coffee as well as clients diversifying financial assets through Managed Funds, or individuals implementing their own trading methods.
For more information visit http://www.ameer-global.com
Press Release Source : AB Newswire
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