The crude oil prices recorded a decline over the past day, which is mainly due to recent disappointing data on the state of American consumers. To contribute to the pressure and expectations for growth of new oil reserves in the U.S. As part of yesterday’s trading session in New York oil contracts with delivery in October dropped by 0.6 percent to 74.70 dollars a barrel. This morning, the raw material gave a further 70 cents to $ 74 a barrel. Since the beginning of the month the price of oil fell 6.3 percent, although last week there has been a growth of 2.3 per cent. Since the beginning of the year did the black gold has lost 6.8 percent of the price. Fall in oil prices yesterday came because of evidence that Americans’ incomes rose by 0.2 percent last month. This was below market expectations for growth of 0.3 per cent and cause negative feelings. The price of Brent crude oil dropped to the minimum 5 cents to 76.60 dollars a barrel.
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The crude Oil prices continue to retreat and in yesterday’s trading session, registering a decline for the fifth consecutive day. Thus quotes are back to 11-week bottom, where they found some support this morning and moving with a slight increase. Yesterday in New York oil contracts with delivery in October lost 2 percent to 71.63 dollars a barrel. This is the lowest level since June 7, a raw material is already moving at a retreat of 9.4 per cent this year. Within the past five days with the black gold retreated 5.5 percent. This is due to concerns that the global recovery lost momentum again his. Approaching the level of 70 dollars a barrel attract buyers and the price of black gold found some support. She came because of the temporary retreat of the dollar against the euro, ending a five-day rally in U.S. currency. This prompted a rise in oil prices of around half a percent. But the dollar quickly recover and again this morning against the euro ahead as both currencies are exchanged at a rate of 1,2635 EUR / USD. This is reflected in the oil market, where this morning the black gold of the earnings lost during the night and move to a growth of 0.25 per cent yesterday to 71.83 dollars a barrel.
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The crude Oil reached a new quarterly peak during yesterday’s trading session, then retreated positions. The reason for the retreat was the appreciation of the dollar, which sank to its lowest level against the euro since the beginning of May so far. Within the exchange session in New York oil price with delivery in September rose 1.5 percent to 82.55 dollars a barrel. This is the highest price of the raw material since 4 May. At night, however, took oil down, which is its first retreat for the last five days. By reason analysts indicate negative sentiment in the Asian trading session, and expectations of weak U.S. economic data later today. Among the data to be published today, are the indexes of industrial orders and consumer spending and expected sales figures for housing. Expected sequence of data to show that recovery of the largest in the world economy remains stuck. This will cause a retreat in oil prices, which traded this morning with a decline of 0.5 percent to 82.12 dollars a barrel. Exchange in London yesterday the price of Brent crude oil jumped 2.3 percent to 82.68 dollars a barrel.
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The crude oil price rose over the past day, as the quotations again turned to 77 dollars a barrel. This gave rise to some positive signs for the Chinese economy and the retreat of the dollar. Oil supported the second consecutive growth indexes in China. He came because data for increased domestic consumption, leading to increased profits of car manufacturers. This gives rise to expectations that demand for fuels in the country will increase. On the New York Stock Exchange yesterday, oil contracts with delivery in August increased its price by 0.7 percent to 76.54 dollars a barrel. The deadline for trading with them expires today, but this morning their price increased by 0.15 percent to 76.65 dollars a barrel. The September futures which are already traded more actively, rose 0.1 per cent to 77 dollars a barrel. This morning the euro managed to advance to 1,2968 EUR / USD, and again towards the attack rate of 1.30 dollars per euro.
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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.
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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.
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Euro recorded strong growth of over 2 percent against the U.S. dollar yesterday, gaining support from weak U.S. economic data and encouraging signals of financial stability in the euro area. This caused a significant drop in the price of oil and gold, which yesterday lost more than 3% of its value. The single currency has reached the level 1,25 EUR / USD, which is its highest value since June 21. The appreciation came after news of another problem in the U.S. housing market and because of data problems in the labor market and the slowing of production activity. Meanwhile, the ECB yesterday organized an auction for commercial banks’ lending, which was used quite a bit of financial institutions. This and the success of the bond issue in Spain, have strong support of the single currency. On the New York Stock Exchange yesterday, oil contracts with delivery in August dropped by 3.5 percent to 72.95 dollars a barrel. This is the lowest cost of raw material from 8 June onwards, and earlier this morning quotes remain at the same level. This means that travel week black gold has dropped by as much as 7.2 per cent, taking the greatest decrease in the week since May 7.
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The crude oil prices fall account for a third day because of weak data on consumer confidence in the U.S. and alarming signs of economic growth in China. The U.S. consumer confidence in June dropped heavily to the level of 52.9 points in June, after a month earlier was 62.7 points. This prompted a sharp drop in U.S. stock exchange yesterday, as predictions were for much more limited decrease in the index. On the New York Stock Exchange yesterday, oil contracts with delivery in August fell by 3 percent to 75.94 dollars a barrel. This is the largest decline in raw material from June 4 onwards. The night continued retreat of the quotes this morning and they were 0.4 percent lower at 75.66 dollars a barrel. Thus, the raw material is directed to the first quarterly drop in prices from late 2008 onwards. From late March till now, oil has dropped by 9.4 per cent. Yesterday in London, Brent crude oil from the supply in August fell 2.8 percent to 75.44 dollars a barrel.
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The crude oil price rose over 3% to near 79 dollars a barrel after the National Center for hurricanes in the United States estimated that 80% is likely forming tropical storm in the Atlantic to strike the Gulf this weekend. This will disrupt oil production in the bay and will make cleaning the oil spill caused by the explosion and sinking of the oil platform BP Deepwater Horizon. About 31%, or 1.69 million barrels of daily production of crude oil in the U.S. comes from platforms in the Gulf of Mexico. The strong rise in the price of energy and raw materials contributed depreciation of the dollar which retreated from almost all major currencies. Oil futures rose 3.1 percent, or 2.35 dollars to finish the trade in New York at the level of 78.86 dollars a barrel. This was the biggest daily rise since June 9 and the highest price level for last seven weeks. Euro more expensive by about half a percent against the dollar to 1.2387 dollars per euro. Fall of course the dollar and lowers oil price expressed in other currencies. This increased the Brenta to 1.86 dollars or 2.4 percent, to 78.33 dollars per barrel on the International Petroleum Exchange in London.
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The price of crude oil remains below 77 dollars per barrel, resulting in what is about to record the first week retreat for the last three weeks. The reason for uncertainly movement of quotations gives renewed fears of economic development. Yesterday the price of black gold stabilized after two days of decline, which contributed data on the growth of durable goods orders in the U.S. and the decline in initial unemployment in the country. The crude oil contracts with delivery in August rose 16 cents minimum to 76.51 dollars a barrel. This morning also lost raw materials 0.3 percent to 76.29 dollars per barrel, but the quotations are about to rise for the week of 0.6 per cent. On the London Stock Exchange this morning Brent with delivery in August lost 0.22 percent to 76.30 dollars a barrel. The price started increasing after the fiasco of the US Dollar last month and hard offence over the crude oil prices.
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