The price of U.S. light crude went up and centered around 72 dollars a barrel during electronic trading today on the New York Petroleum Exchange, increasing for the first time in ten days. This gave rise to expectations that the data of the American Petroleum Institute, to be published today will show that U.S. stocks of raw energy decreased. U.S. is largest consumer of petroleum and petroleum products in the world, followed by China. The average forecast of analysts surveyed by Bloomberg, shows a decline in oil reserves of 2.75 million U.S. to 363.1 million barrels last week. Official figures of the American Petroleum Institute is expected before the end of today’s trading session in the U.S.. Price increase helped the successful auction of government securities of Spain, which was held yesterday, writes Bloomberg. The country sold 10-year government bonds for 6 billion euros, orders were submitted for 13 billion because of strong interest from investors. U.S. light crude for August delivery finished yesterday’s session with a fall in the price of 16 cents to 71.98 dollars a barrel. During the e-commerce Today it more expensive by 0.2 percent to 72.11 dollars a barrel. Since the beginning of this year its price has fallen by 9.2 per cent.
Continue Reading

The crude oil trades decreased for the seventh straight day during today’s electronic trading in New York after concerns about economic recovery in Europe continued to weigh on quotations. Economic data of recent days showed that the manufacturing sector and service sector in China have slowed their growth, which bodes less demand for energy inputs in the second largest consumer of oil in the world. The same situation occurred in the manufacturing sector of the U.S. and Europe. The price of U.S. light crude fell by 0.4 percent to 71.86 dollars a barrel in today’s times of electronic trading on the New York Stock Exchange. U.S. financial markets were closed Monday on the occasion of Independence Day. Oil futures with delivery in August fell by 81 cents or 1.1 percent, to 72.14 dollars per barrel by the end of Friday’s session. Last week energy raw materials fell 8.5 per cent because of worsening economic attitudes of investors. Since the beginning of this year its price has plummeted by 10 percent.
Continue Reading