Oil establishes position above $100 line

Oil continues to trade on a slight rise this morning, despite slight increases listed by the USD. While encouraging U.S. employment data on Friday raised optimism about the commodities market demand for crude oil. At the end of trading last Friday the trading of oil rose by 0.8% to the level of USD100.96 a barrel. This morning the black gold continues the positive momentum and climbed to a level of USD101.65 a barrel. On a trend for the black gold that began two weeks ago when the price of a barrel of oil was at the level of support at USD95.00 a barrel. Now oil is approaching the next resistance level at USD103.00 a barrel.



EUR - USD 1.3450
The upward trend of oil comes despite an impression on it this morning by the USD. The USD has gained particularly against the EUR. After several days of EUR rises it has weakened this morning around the world. The world once more pessimistic voices are expecting an Euro-zone economic collapse. On Friday, no important figures were published on the economy of Europe, and despite an opening rise, the EUR came down to USD1.355 in early trading, the EUR also weakened after the release of employment figures in the U.S. and now stands at a level of USD1.345 dollars. The level of support coming of the EUR is at USD1.3220.