Forex Oil Trading

Oil iz 1 of d world's basic necessities - @ lEst 4 now, most ppl n developed countries Cnot live w/o it. n February 2009, d P$ of oil wz nErly 70% bElO itz all-time hI of $147.27 set on July 11, 2008. A decline n oil prices iz a nightmare 4 oil producers, whIl oil consumers njoy d benefits of greatR purchasing powR. DIS iz a complEt 180-degree chAng frm d situAtN @ d beginN of 2008, wen record-high oil prices put a big *S* on d faces of oil producers whIl forcing oil consumers 2 pinch pennies. ther R a # of reasons 2 explain d faL n oil prices, including a stronger dollar (oil iz priced n dollars) & weaker global dm&. az a net oil exporter, Canada iz severely hurt by declines n oil, whIl Japan - a mjr net oil importer - tends 2 benefit.

Btwen d years 2006-2009, 4 example, d corEl8N Btwen d Canadian dollar & oil prices wz ~ 80%. on a day-to-day basis, d corEl8N cn break, bt Ovr d lng term it hz Bin strong cuz d valU of d Canadian dollar hz gud rEsN 2 b sensitive 2 d P$ of oil. Canada iz d seventh-largest producer of crude oil n d wrld & continues 2 climb ^ d list, w production n oil sands NcrEsN regularly. n 2000, Canada surpassed Saudi Arabiaas d United States' most significant oil supplier. Unbeknownst 2 many, d size of Canada's oil reserves iz 2nd only 2 thOs n Saudi Arabia. d geographical proximity Btwen d U.S. & Canada, az weL az d growing political uncertainty n d midL East & South America, makes Canada 1 of d mo desirable places frm whch d U.S. cn import oil. bt Canada duz not srvic only U.S. dm&. d country's vast oil resources R beginN 2 git a lot of ATTN frm China, especalE since Canada stumbled upon a nu stash of oil aftR a reclassification of itz Alberta oil sands 2 d "economically recoverable" category. (Read mo n Peak Oil: wot 2 Do wen d Wells Run Dry.)