Crude oil continues to rise for the third day
ecPulse
2014-10-20 13:09PM UTC
Crude oil prices started today’s trading session high after achieving $80 per barrel last week. The continuing rise in oil prices – three days straight – came amid Iran’s quest to prevent more declines in prices, as well as market speculations that the price drop amounted to areas that require rebounding to the upside again. There is no doubt that the U.S. data effect still dominates global markets in general, as well as the market expectations and hopes that the Federal Reserve (the Fed) will continue to support the economy through stimulus programs which were supported by statements of the Fed member James Bullard saying its necessary to continue with the stimulus programs, which gave a considerable boost to global markets.
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