The crude oil prices reached their highest level in 31 months, but then quickly retreated quotations positions. This is due to speculation that demand for oil is much higher than what the global economy can sustain in terms of the ongoing crisis. For the retreat of quotations yesterday after appreciation and help stabilize the dollar against the euro. This act of cutting the interest in investing in commodities.
“The raw materials are too expensive, so investors harvested gains in the current high prices. The main thing is monitored to determine the direction of prices is the currency market,” said the analyst. On the New York Stock Exchange yesterday, oil contracts for June delivery hit 113.48 dollars a barrel, which had not happened on September 22, 2008 onwards. But the session ended at 112.28 dollars a barrel. This morning, a light crude oil is traded with a fall of about a percentage point to 111.20 dollars per barrel. The London Stock Exchange yesterday of Brent oil for June delivery fell 0.3 percent to 123.66 dollars per barrel. This morning Brent traded at a slight setback to 123 dollars a barrel. The US dollar Index, which tracks performance of the greenback against six major currencies, rose by 0.3 per cent today. This is the first indicator of growth for the past six days. YTD dollar index has lost 6.1 percent of its value.

The rapid jump in oil prices early this year and improved returns from refining are probably brought solid gains of major oil companies in the first quarter. It is not excluded that the profits of American oil companies for this year can compete with record levels for the industry since 2008, said publication. Then oil prices reached $ 147 a barrel, marking its highest levels in history. In the first quarter price of a barrel of oil rose to an average $ 100, which is about 20% more than a year ago. The reason for this were mostly concerns about breaches of its exports because of political unrest in the Arab world. The recovery of world economy at the same time intensify speculation about higher oil demand, which also supported the price of the black gold. The jump in oil prices expected to rise by about 50 per cent profit on the largest U.S. oil company Exxon Mobil in the first quarter. For the second and third largest U.S. oil companies Chevron and ConocoPhillips this growth is estimated to be about 33% annually. Of course, the year is still in its beginning and forecasts for record profits is too early to judge. Prices of U.S. light crude hover over 112 dollars a barrel in New York and about 124 dollars a barrel Brent crude in Europe. This unusually large difference in oil prices, sold in the U.S. and Europe, however, can support the profits of U.S. oil companies in two ways.
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The crude oil fell for a second day in today’s electronic trading in New York under the influence of deteriorating attitudes of market participants about the outlook for the economy in the U.S. and the eurozone. In yesterday’s regular session on the New York Petroleum Exchange oil fell 2.3 percent to 107.12 dollars a barrel, after ratings agency Standard & Poor’s gave a negative outlook on U.S. government debt. In the prior trading day, U.S. light crude cheaper for a further 0.1 percent to 107.06 dollars per barrel. The May oil futures expire today, but actively traded futures for June delivery traded, down from 57 cents to 107.13 dollars per barrel. Harvested in the North Sea Brent lost 1.5 percent yesterday to 121.61 dollars a barrel, its lowest price level from 12 April onwards. In today’s e-commerce price rises slightly to 121.70 dollars per barrel. The gold for June delivery, which almost reached a record 1,500 dollars an ounce in yesterday’s session, cheaper by 0.1% to 1 490.20 dollars an ounce.

The price of U.S. light crude climbed above 108 dollars in today’s e-commerce in Asia, while stock indexes in the region stood at their highest levels for the past three years. The ongoing civil protests in Yemen and clashes between rebels and military forces of Muammar Gaddafi in Libya will keep oil markets under pressure this week because of their impact on the export of energy raw materials from countries in the region. The U.S. light crude for delivery in May, rising by 0.3 percent to 108.25 dollars per barrel, while Brent traded with an increase of 0.2 percent to 118.98 dollars per barrel. At the end of Friday’s session price of U.S. crude oil recorded its highest levels for the past 30 months, and this year have risen by 19%. For the price of oil helped better-than-expected data on the labor market in the U.S. on Friday, heightened hopes that the U.S. economy will continue to recover, which will carry a greater consumption of energy resources. The price of U.S. light crude jumped by more than 1 percent on Friday to its highest level in two and a half years after employment in U.S. economy has increased significantly for the second straight month in March and the unemployment rate in the country fell to two-year low of 8.8 per cent. The May oil futures rose 1.22 dollars or 1.1 percent, to end the session on Friday at a level of 107.94 dollars a barrel. Besides the threat of disruption of oil from the Middle East and North Africa, the price will probably reflect the upcoming presidential elections in Nigeria, which is the largest producer of oil on the African continent, writes Reuters.
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The prices of U.S. light crude have risen by 15% since the beginning of this quarter against the civilian protests against longtime regimes in the Arab world and the current geopolitical crisis in the oil-rich region. The jump in oil prices, reported from January to March, the strongest of the first three months of 2005 onwards, because the insurgency in North Africa and the Middle East have disrupted supplies of energy raw materials, most noticeably from Libya, which is the third largest producer in Africa. The fears of deepening crisis in the Arab region is reflected in large measure on the cost of extraction in the North Sea Brent, because of the dependence of European countries by the Libyan crude oil. Price was raised even more by 22% this quarter. Meanwhile, the accumulation of oil reserves in the U.S. rose to their highest levels in history, failed to stop the increase in commodity prices. U.S. is largest consumer of oil in the world, followed by China and Japan. The U.S. light crude for delivery in May, rising by 0.4 percent to 104.68 dollars a barrel in today’s electronic trading on the New York Petroleum Exchange. The reason for this was the retreat of the rebels in Libya, which were driven yesterday by troops loyal to Muammar Gaddafi. The weekly report by the Ministry of Energy of USA, came after the end of yesterday’s regular session in New York showed that the country’s oil reserves have increased by nearly 3 million to a record 355.7 million barrels for the week to March 25.
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The crude oil prices fell in the hours prior to today’s stock exchange trading in New York but remains permanently above the psychological $ 100 a barrel. Cheaper energy input comes after the next portion of data increasing oil reserves the U.S. The U.S. light crude for May delivery traded with a fall of 0.3 percent to 104.51 dollars per barrel. The weekly report from the American Petroleum Institute showed at the end of yesterday’s regular trading session in the U.S. that stocks of crude oil in the country increased by 5.7 million barrels last week. This is the fourth consecutive weekly increase their certificates and limited demand for raw materials in the largest economy in the world. U.S. economic data yesterday also showed that consumer attitudes about the economy have deteriorated sharply in March. The price of U.S. light crude has risen by 14% since the beginning of this year and ended yesterday’s session with a rise from 81 cents to 104.79 dollars per barrel. Only in March the energy input is appreciated by 7,6 per cent. The Brent crude cheaper by 0.2 percent to 114.99 dollars a barrel in electronic trading today after yesterday my price rose by 0.3 percent to 115.16 dollars per barrel.
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Some would say that Mother Nature is the best allocator of assets, if seen in a long enough time horizon. Departing from this allegation, it could be argued that silver is very undervalued compared to gold. According to the author of “The Little Book of Commodity Investing” of John Stevenson in nature, there are 16 times more deposits of silver than gold. However, the price of gold is 38 times higher than that of gold. The current price of silver is about 37 dollars an ounce, while gold traded at around 1,420 dollars an ounce. According to basic laws of supply and demand, especially in view of the fact that both metals have similar application, the difference in their prices should be much lower.
“Silver has virtually the same physical characteristics as gold – it is a means of preserving the value and has limited application in the industry,” said Stevenson, who is a portfolio manager at FirstAsset Management in Canada. “For my money deal of the decade will be silver. Gold was the best investment for the past decade, but silver will be the means by which investors can overcome these storms in the global economy, “he said. Over the past decade gold has appreciated five times for directing investors to safer assets. Initially, the gold rush was because the desire to prevent a bear market, but later it was used for protection against inflation because of downed near zero interest rates in developed countries.
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The price of oil goes down for third day and fell close to 105 dollars a barrel in the electronic trading today, affected by uncertainty surrounding the nuclear crisis in Japan and the crisis of government debt in Europe. The events in Libya in recent days also supported the fall in oil prices after armed troops of the opposition seized on the weekend five cities in the eastern part of the country, including the oil terminal in Ras Lanuf. After his capture the representatives of the Transitional National Council in Benghazi announced that Libya would resume oil exports in the near future. Firm in the oil trade will be emirate of Qatar. The U.S. light crude for May delivery cheaper by 0.3 percent to 105.08 dollars a barrel in today’s electronic trading of oil exchange in New York. Share prices on the Tokyo Stock Exchange fell after it became clear that severe leakage of radiation is difficult trying to cool the reactors at the victims Fukushima-1. The crude oil cheaper for a third day on the stock exchange in New York, which is the longest series of its decline since March 11. On Friday, its price fell 20 cents to 105.40 dollars per barrel, but compared with March 2010 it has increased by 28 per cent.
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The crude oil prices fell in the hours prior to today’s trading of oil exchanges in New York and London because of forecasts that oil demand in Japan may decline after the devastating earthquake and tsunami of March 11th. Japan is the third largest economy in the world and also is the third largest importer of energy raw materials, after the U.S. and China. The Japanese economy shrank last quarter of 2010, according to analysts, will begin to grow again in the second half of this year because of the serious consequences of natural disaster hit the country. The Japanese government decided to establish a special agency to monitor the recovery process, similar to the agency created for that purpose after World War II. The U.S. light crude for May delivery cheaper by 0.4 percent to 104.56 dollars per barrel in pre-trading on the New York Petroleum Exchange today. The April oil futures expired yesterday, ending the regular session with the jump in price to 104 dollars a barrel, its highest level in two weeks.
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The price of crude oil goes up for a second day today after allied air attacks on U.S. forces, Britain and France over Libya over the weekend increased the risk of disruption of supplies of oil from the third largest exporter in Africa. Meanwhile, the citizens in Yemen protests against President Ali Abdullah Saleh is reinforced by further evidence of the deepening political crisis in the region. The U.S. light crude for delivery in April, rising by 5 cents to 102.38 dollars a barrel in today’s electronic trading on the stock exchange in New York. Its price rose by 1.26 dollars yesterday to 102.33 dollars a barrel, its highest level since March 10st. The April futures on U.S. light crude expire today. More actively traded futures for delivery in May expensive by 1 cent to 103.10 dollars per barrel. The Brent, meanwhile, cheaper by 10 cents to 114.86 dollars per barrel, having traded yesterday with an increase of 0.9 percent to 114.97 dollars per barrel. The U.S., Britain and France intervened in Libya this weekend in support of rebels in the east of the country after the United Nations authorize the conduct of military operations last Thursday. The Allies fired over 100 Tomahawk missiles over the weekend against forces loyal to Muammar Gaddafi, and established no-fly zone over much of the country. The Libyan leader condemned the coalition against his regime, calling it a “coalition of Satan.”
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