The Crude Oil prices rose significantly yesterday, which brought the quotations to their highest level in 17 months. Major role played this retreat of the dollar, which yesterday fell 0.7 percent against the euro. The decline in dollar gaining strength and now March 25 dollar index has lost 1.3 percent of its value. This triggers an increased interest in investing in raw materials and helps the price of oil. Yesterday in New York oil price with delivery in May rose 1.7 percent to 83.76 dollars a barrel. So quotations have reached their highest level since October 9, 2008 to date. In times of e-commerce and optimism was chilled with black gold retreated 0.4 percent to 83.43 dollars a barrel. This is mainly due to the surprise drop in U.S. jobs last month, and the unexpectedly high growth of oil stocks in the U.S. economy. Tomorrow the stock exchange in New York there will be no trading session, as the Christian world prepares to meet on Easter. Exchange in London yesterday of Brent oil rose 1.8 percent to 82.70 dollars a 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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