The price of crude oil increased to near 81 dollars a barrel during electronic trading today in Asia, together with all the major stock indexes in the region. The price of energy input is about to celebrate third growth in the last four weeks, after having surged by 1.2 percent over the past five days. Reason for today’s rise in oil gave news that the Organization of Petroleum Exporting Countries (OPEC) will cut oil supplies by 2.3 percent within months, ending on March 20. Countries that are members of OPEC, the source of about 40% of global oil supplies. U.S. light crude for delivery in April, is rising by 60 cents, or 0.8 percent, to 80.81 dollars a barrel during electronic trading today on the New York oil exchange. By the end of the session on Thursday, oil futures fell by 66 cents to 82.21 dollars per barrel. Meanwhile, the price of Brent rose by 64 cents, or 0.8 percent, to 79.18 dollars per barrel in today’s times of electronic commerce in the international petroleum exchange in London. The April oil futures ended the session yesterday with a decrease in price by 0.9 percent to 78.54 dollars per barrel.
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The European stocks rose for the fifth consecutive day thanks to some better-than-expected corporate profits, police Bloomberg. The Shares of Ahold chain stores reported the strongest growth since May – with 5 percent after the company announced an increase its dividend by 28 percent. At the opposite pole were shares of shipping company Maersk, which sank 4 percent after the group announced its first annual loss since World War II. Pan-European Stoxx Europe 600 index ended trading with a growth of 0,1 per cent to 252.93 points after a highly volatile session. Growth was limited by the end of the planned report on housing sales in the U.S. unexpectedly fell in January. Major national indexes advanced on 9 of the 18 western European markets. The UK’s FTSE 100 lost 0.1 percent to 5527.16 points while France’s CAC 40 and German DAX retreated with 0.4 per cent respectively to 3828.41 and 5795.32 points.
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