The IEA now anticipates oil demand of 89.2 million barrels per day in 2011, just 1 million more than in 2010.
Nevertheless, crude oil is on the rise today while the dollar fell compared to the euro, as the European Union pushes towards shoring up the region's debt problems.
Crude oil is trading up slightly to $85.84 a barrel, leading the DB Oil Fund (AMEX:DBO) to trade up .4%.
The Energy Select Sector SPDR (AMEX:XLE) is trading up over .1%.
The Euro Trust (AMEX:FXE) is trading up about .6%, and the U.S. Dollar Bullish Fund (AMEX:UUP) is trading down over .4%.
Gold, meanwhile, is trading up to $1,682 an ounce. Trade in the yellow metal is leading the SPDR Gold Shares (AMEX:GLD) to trade up .8%, while the iShares Gold Trust (AMEX:IAU) trades up over .8%, and the Gold Miners ETF (AMEX:GDX) to trade up over .6%.
For MarketNewsVideo.com, I'm Kristin Bianco.
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