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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