The week started with the growth in oil prices. The reason for this is mainly speculation that OPEC’s new measures to curtail production will lead to a reduced supply of raw material. At the time of high interest are expected consumer confidence data in the U.S., which will be published tomorrow. Estimates for the improvement of the indicator, which can also lead to an increase in oil prices because of expectations that positive attitudes will be conveyed in the corporate sector. This morning American barrel light crude oil is traded with a growth of 0,5 per cent on Friday, as the quotations are close to 82 dollars per barrel. Last week, black gold has managed to rise by 2,3 per cent on Friday as only the price of oil has increased with 1,3 percent, reminds Bloomberg.
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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 price of oil rises above $ 80 a barrel during electronic trading today in Asia, in line with increases in the indexes of securities markets in the region. Economic optimism today was fueled by news of the expansion of the factory sector in China and Australia, says the AP. U.S. light crude for delivery in April, more expensive by 56 cents to 80.22 dollars a barrel during electronic trading on the New York oil exchange. Oil futures rose by 1.49 dollars or 1.9 percent, to finish the last session in February at a level of 79.66 dollars per barrel. Within the energy input of February rose by over 9% during the last five months its price ranges from 69 to 84 dollars per barrel. Most strongly on price levels in recent months reflect data on oil stocks and demand in the U.S., and the change in the rate of the dollar. International petroleum exchange in London Brent crude supply in April with more expensive by 54 cents to 78.13 dollars per barrel.
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The price of oil recorded several sharp movements in the past day. The black gold initially rose significantly, passing over 79 dollars a barrel, then retreated with quotes around the dollar. As part of yesterday’s session of the New York Stock Exchange with oil delivery in March rose by 2,2 percent to 79.06 dollars per barrel, the highest close since 14 January. It came because of the temporary stabilization of the euro, which has triggered interest in investing in commodities. Late in the evening, however, the U.S. Federal Reserve raised the discount rate by a quarter percentage point to 0.75 percent, which acted as a powerful catalyst for the dollar. Thus, the dollar rose to 1,3485 EUR / USD, after yesterday the euro was more than 100 pips more. This led to reduced interest in investing in raw materials and oil prices fell with 1,3 per cent to just over $ 78 a barrel. The Exchange in London yesterday of Brent crude oil with delivery in April rose by 2 percent to 77.78 dollars per barrel.
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The price of crude oil increased sharply in the past day and the quotations passed over 77 dollars a barrel. Major role it played for speculation that Greece will not need support from the EU to cope with the limitation of their budget deficits. This led to strong growth in the price of the euro, which restored much of the lost against the U.S. dollar in recent days. The single currency rose to 1,3770 EUR / USD, having risen to 1.28 percent yesterday. However, since November the euro is moving with a decline of 9 percent. For the positive sentiment in the oil market influences and optimistic ending the session on the New York Stock Exchange. Because good news for the region’s manufacturing activity in New York yesterday, the shares registered in the U.S. growth rates. As a result of all this, within yesterday’s trading session in New York, U.S. light crude rose by as much as 3.9 per cent (2.88 dollar) to 77.01 dollars per barrel. Thus was achieved the highest growth of 30 since September last year. Night quotes continued its upward movement this morning and move to more growth of 0,5 per cent to 77.37 dollars per barrel.
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Quotes of the Asian oil trade fell below $ 72 a barrel after yesterday overcame declines, made late last week and reported a minimum 17-month price agency reported Reuters. Depreciation of the new “black gold” due to the oppression of stock players for uncertainty about budget problems in most euro area countries, especially Greece, Spain and Portugal. Diverging signals the degree of recovery of the economies of countries that are the biggest users Oil also confused investors on the stock markets. Price of oil on Monday was due to the intertwining of several factors: strong and sharp cooling in the U.S. geo-politics direction about Iran’s intention to begin enriching uranium, and the weakening of the dollar against five major currencies. Since the beginning of 2010, oil prices have fallen by nearly 10 percent mainly due to the increase in raw material stocks in the U.S., aggressive monetary-credit policy in China and because of doubts about the financial stability in Europe. Two hours after trading opened in London, March futures added 9 cents to $ 71.82 a barrel, after having decreased slightly in the morning. U.S. trade with appreciation Monday close of 70 cents to $ 71.89 a barrel.
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The exchange rates of the Asian oil trading slightly more expensive today, reports agency Reuters. Reason for the rise the investors interest to benefit from a minimum 17-month price reached late last week. They apparently decided to take advantage of the chance to buy “black gold”, which is expected to rise due to bad weather conditions in the U.S. and Europe. Notwithstanding the rise in quotations is not expected sharp jump. Players of the exchange do not want to risk much. They are discouraged by good results for the unemployment in the U.S. and are concerned about budget problems in Greece. Gentle crude for March delivery rose 55 cents to $ 71.74 a barrel. On Friday trading in New York close of a 17-month minimum of $ 71.19 per barrel. In the variety “Brent” futures rose by 63 cents to $ 70.22 a barrel. Additional pressure for oil price rises may have tensions over Iran and the decision by President Mahmoud Ahmadinejad to start producing enriched uranium.
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The price of oil futures go up for the first time in four days after nearly three weeks of decreases in the price of energy resources. During today’s e-commerce in Asia, oil briefly rose above $ 74 a barrel, after economic data from Japan showed that industrial production rose in December, while unemployment has experienced the decline. U.S. light crude for delivery in March, slightly more expensive by 0.1 percent to 73.70 dollars per barrel in today’s times of e-commerce exchange in New York. Earlier today the price jumped to 74.03 dollars per barrel. By the end of yesterday’s session, oil futures fell by 3 cents to 73.64 dollars per barrel. This is their lowest closing levels of 21 December. Since the beginning of this month, the energy input is depreciated by 7 percent and is on track to record its first decline in monthly basis for the past six months. Oil prices ended the last trading session of the 2009 level of 79.36 dollars per barrel on 14 January and is now trading below that level.
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The quotes of the Asian oil trade fell below $ 75 a barrel, reaching almost to the monthly minimum, and the main reason, according to Reuters agency have poor economic data in Asia and especially the increasing demand for currency to replenish the reserve of some large banks China. Additional indicator for the lowering of prices was news that the economic growth of South Korea has slowed down during the last quarter of 2009 due to three factors: reduced export demand and crouching low public spending. All this led to a decrease by 85 cents a quotation of U.S. light sweet crude for March delivery at $ 74.42 a barrel. When Brent was also reported a decline of 80 cents to $ 72.89 a barrel on supply in March. Players expect the oil market statistics for stocks in the United States to take their decision how to proceed until the end of the week. This information will be made tomorrow on two channels – from the American Petroleum Institute (API) and Energy Information Agency (EIA).
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The crude oil prices run over $ 78 a barrel, which has long stopped falling over the last five working days, the agency reported Reuters. And the reason for the sharp rise indicates the suspect standing in addition – the weakening of the dollar, but concerns about increased demand for energy resources and signs of recovery in the global economy. Contracts for U.S. light crude for delivery in February, have added very quickly to the price of 64 cents to $ 78.64 a barrel after the beginning of Asian trade today was reported quarterly decline to $ 77.29 a barrel. The price of London’s variety “Brent” add less – 43 cents to $ 77.54 a barrel. Today in the U.S. markets are closed and oil traded volumes were small, pointed brokers. They even admitted to the upsurge in prices is short-lived. According to Reuters the current oil prices are 50 percent lower than the historical maximum of $ 147 a barrel reached in July 2008. International Energy Agency (IEA) announced that the termination of economic incentives may be a threat to oil demand this year, which will increase its price.
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