In March, oil had fallen to around $ 50.00 a barrel and many expected it to go even lower. However, in defiance of such optimistic expectations, oil started to rise and as of this writing oil has risen to $ 66.33 per barrel. At least one member of OPEC is predicting a rise to $ 75.00 per barrel in the very near future. While such a rise and predicted rises are bad news for consumers, they are good news for investors in commodities and rising oil prices are indicators of what many experts are saying will be continued increases in commodity futures prices for the next 12 to 20 years. Thus, if you are investing in commodities, then commodity futures quotes are important to you and charting software is the best tool to help you keep up with this ever changing data.
There are many factors which suggest a rise in oil and other commodities prices to continue such as instability in some oil producing countries which point to a possible shortage at a time when India and China are becoming hungrier consumers – hungry for oil and gas as well as for food. Food is one of the leading components of commodity exchanges and as demand increases, so does the prices of goods needed by a growing global population and expanding consumer base. Then there is the threat of inflation as a necessary byproduct of the global economy meltdown. Even though politicians and economists alike are talking about the beginning of the end to the global economic crisis later this year, some economists are worried about rising inflation. And although inflation might be a bad thing for some, it is a good event for commodities if it causes a rise in prices.
Some investment advisers have documented that commodities prices move in certain patterns which can be charted and doing so helps you to spot when it is about to break one way or the other – go higher or fall lower. Commodity futures quotes help you to see where a commodities price is at any given moment. Charts help you to make sense of that raw data and to know when a commodity is about to break one way or the other.