The price of oil is about to finish first week of decline for the last month amid signs of weakening U.S. demand and inconclusive economic data for the country. They failed to counteract concerns about the curtailment of supplies from Libya, under whose influence oil reached its highest price level since September 2008 earlier this week. The U.S. light crude for delivery in April cheaper by almost 1% to 101.73 dollars a barrel in today’s electronic trading on the New York Petroleum Exchange. U.S. economic data yesterday showed that new applications for unemployment benefits increased more than expected, highlighting the poor state of the labor market in the country. The price of oil pressure and the increase in proved reserves of crude oil in the U.S. last week. Analysts told that high crude oil prices are now entirely due to the Middle East conflict and taper off their energy raw materials will become cheaper due to near record large U.S. oil stocks. The lack of more robust signs of expansion in economic activity in the U.S. will also limit the appreciation of light crude oil. Its price fell 1.6 percent yesterday to 102.70 dollars per barrel. Since the beginning of this week, the variety traded in New York has dropped by 2.6 per cent.
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The crude oil from the Brent type rose its price strongly yesterday, raising its price by over 2 per cent. The main reason is the escalation of tensions in Lebanon, prompted by the success of the loyal forces of Muammar Gaddafi. They have managed to regain control of several strategic cities. The Brent oil with delivery in April rose 2.3 percent by the end of yesterday’s regular session in London to 115.60 dollars per barrel. At the same time lightest crude oil traded on the stock exchange in New York fell 64 cents to 104.38 dollars per barrel. In today’s e-commerce Brent rose by another 0.2 percent to 116.20 dollars per barrel and U.S. light sweet crude rising by 0.4 percent to 104.79 dollars per barrel. The difference in the movement of both types of oil due to the geographical proximity of London and European companies to the troubled regions of North Africa and Middle East analysts. For appreciation of Brent oil yesterday and contribute news of bombing in Iraq, aimed at major oil pipeline to Turkey. Because of this incident submission of oil through the pipeline will be suspended for at least three days. In it usually subsides in about 400 thousand barrels per day. Loss of profits can reach millions of dollars.
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The price of Brent oil will probably reach his record of 147 dollars per barrel recorded in the summer of 2008. This demonstrates the technical analysis prepared by the analyst ING Wholesale Banking Ryolof van den Acker.
“The crude oil is in a very strong bull market in the long run,” said an analyst for the media. The specialist, however, warns that the growth from the current 114 to a record $ 147 can not come without short-term ‘minimum’ price correction between 108 and 114 dollars a barrel. “To retreat in oil could see a calming of stock exchanges,” said van der Acker. However, this is likely to continue briefly, then the market will continue its upward movement. The potential for retreat of the euro against the dollar is “quite limited” and probably for some time there will be variation in these limits, the analyst said. Today the single currency lost around 0.7 percent against the dollar to 1,3870 EUR / USD. The aim is to euro levels of 1.4250, and then have the opportunity to attack 1,50 EUR / USD and even conquering a record 1.60 dollars per euro, while maintaining the bullish sentiment.

The crude oil prices began the new week with a sharp rise, extending its rally from last week. This morning, black gold advanced by 1,7 per cent since the previous price jumped nearly 7 percent. Today the stock exchange in the U.S. lightest crude for delivery in April added 1.7 per cent (1.76 dollar) to 106.18 dollars per barrel. This is the highest price of the raw material from September 2008 until now, since the beginning of the year, oil has appreciated by 16 per cent targets. This appreciation has led the U.S. administration to consider opening the strategic petroleum reserve of the country to counter the sharp appreciation of her. For now, however this news has no impact on the market. The Stock Exchange of London Brent oil also more expensive, adding 1 percent to its price in the first hours of the new trading week. So quotations reached 117.14 dollars, which remains near the highest level this year – U.S. $ 119.79 zabarel registered on 24 February. The analysts quoted by the media, the main reason for the appreciation of the black gold is happening in Libya. African country in a normal atmosphere produces 1.6 million barrels per day, production has contracted by about 1 million barrels. Expectations are that amount to be offset by increased production in Saudi Arabia.
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The crude oil prices headed to their third straight weekly increase, as of early this week has risen by 4.2 per cent. With a major influence on this situation in Libya, but largely to the rising cost of raw materials influence and positive news for the labor market in the U.S. The crude oil sighed its longest positive series of 8 October now, as then recently been reported increase in commodity prices in three consecutive weeks. Yesterday in the U.S. the crude oil contracts for delivery in April decreased by 0.3 percent to 101.91 dollars per barrel, but at night the quotations rose 0.8 percent to 102.72 dollars per barrel. The London Stock Exchange yesterday the price of the Brent oil slid 1.3 percent to 114.79 dollars per bar. During the Asian trading, however, black gold make up the majority of lost and today Brent again points to 116 dollars a barrel. The crude oil market had some relief yesterday after speculation that Libya will start negotiations with the opposition in control of a broad international committee. This information, however, was rejected by Tripoli and took up quotes again.

The crude oil price broke up and re-pass $ 100 a barrel in the hours after the regular session of the oil exchange in New York today. The reason for this were clashes between demonstrators and security forces in the capital of Iran – Tehran on Tuesday. They reinforced fears that oil supplies from the Middle East and North Africa will be violated. Iran is the second largest oil producer in the Organization of Petroleum Exporting Countries (OPEC) after Saudi Arabia. The country has harvested 3.7 million barrels per day in February. In addition to increased oil prices, unrest in Iran affected and the leading stock index in Saudi Arabia, which fell heavily because of fears that the protests could be transposed into Saudi Arabia. Meanwhile, rebels against the regime of Muammar Gaddafi renewed their clashes with security forces remained loyal to the Libyan leader. The rapid developments in the Middle East and North Africa, where he focused much of global oil stocks rose by 5% the price of U.S. light crude in February with over 11% of the price of Brent variety. In today’s electronic trading, U.S. light crude rose by 0.5 percent to 100.15 dollars a barrel after yesterday jumped 2.7 percent to 99.63 dollars per barrel.
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The crude oil price is back above 97 dollars a barrel on the New York Stock Exchange after yesterday falling to its lowest level last week. The reason for this was speaking of Saudi Arabia that may cover the supply of oil, damaged because of the riots in Libya. According to the CEO of oil company Saudi Arabian Oil Khalid Al-Bankruptcy Libya continues to export oil despite the tense situation in the country. Because of the rapid increases in oil prices International Energy Agency (IEA) said last week it was ready to provide emergency supplies of raw material in case of shortage. The U.S. light crude for delivery in April, rising by 0.6 percent to 97.57 dollars a barrel in electronic trading today in New York. The price yesterday fell 91 cents to 96.97 dollars per barrel, its lowest level since Feb 22nd. The U.S. light crude rose 5.2 percent in February and by 23% over the past 12 months. The Brent obtained from the North Sea, rising by 0.5 percent to 112.35 dollars a barrel in London. The price yesterday fell 0.3 percent, but ended months with strong growth of 11%. The Brent rose more than U.S. light crude for the greater dependence of European countries by the oil supplies from Libya. A Bloomberg’s survey shows that oil production in Libya in February fell to its lowest level in eight years. It fell by 200 thousand barrels per day to average 1.385 million barrels. The civil riots from Morocco to Bahrain led to the resignation of state leaders in Tunisia and Egypt.
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The price of U.S. light crude again turned to attack the level of 100 dollars per barrel. The mainspring of the quotes at the start of trade in commodities this week again pressure in the Middle East and North Africa. The crude oil contracts for delivery in April, moving with a growth of 1.7 per cent Friday to 99.55 dollars per barrel. At an earlier stage quotes touched 99.96 dollars per barrel. Last week, the crude oil price jumped with 14 percent, marking its strongest weekly increase of 27 February 2009 onwards. The traded in London Brent oil does progressed 1.1 percent to 113.40 dollars per barrel. A little earlier Brent reached 114.50 dollars per barrel. In Libya the opponents of the regime of Muammar Kaddafi have taken control of a city located near Tripoli. The country has drawn up a provisional government, which has already announced that oil exports from the territory controlled by it will be under the supervision of the new government, writes Wall Street Journal. The region of the Middle East and North Africa remained unsettled and this weekend, with massive protests was in Oman and Tunisia.

The price of crude oil continues to rise in today’s electronic trading on commodity exchanges in New York and London under the influence of expectations that violence in Libya can stop or disrupt oil supplies from the third-largest producer in Africa. Within the last week the price of oil has raised a record pace for the last two, and noting their highest levels for the past two and a half years. Later today is expected the second statistical estimate of gross domestic product (GDP) of U.S. in the fourth quarter of last year. Forecasts of analysts suggest that the U.S. economy grew by 3.3 percent quarterly growth in initially announced by 3.2 per cent. Positive expectations for the data from the U.S. also supported the price of crude oil. Since the beginning of this week’s price of U.S. light crude was raised strongly by 13%. The analysts said the current high oil prices and food prices threaten the global economy recovers. The U.S. light crude for delivery in April rose by 0.5 percent to 97.72 dollars in today’s pre-trading on the New York Petroleum Exchange. The price yesterday jumped briefly above 103 dollars a barrel against the publications that two thirds of the production of crude oil in Libya was suspended due to the political crisis. Due to the rapid increases in oil countries and organizations with large oil reserves, the U.S., Saudi Arabia and the International Energy Agency (IEA), rushed to reassure markets that are able to compensate for any disruption in oil exports from Libya.
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The European stocks fell for a fifth straight day because of ongoing violence in Lebanon, which sent oil prices to the highest level of 29 months. The pan-European Stoxx Europe 600 index slid 0.6 percent to 280.56 points to its lowest level for that month. The opponents of the regime of Muammar Gaddafi solidified its control over cities in the oil-rich eastern part of the country while he continues to hold Tripoli, using tanks to block roads. The crude oil for delivery in April hit 103.41 dollars – the highest intraday value of 29 September 2008, the New York Mercantile Exchange. The major national indexes fell on 12 of the 18 western European markets. Germany’s DAX slid 0.9 percent to 7 130.50 points, while Britain’s FTSE 100 and France’s CAC 40 fell less than 0.1%. The losses in European markets were offset in part after the initial report on applications for unemployment benefits in the U.S. fell more than expected last week. The shares of Porsche SE fell by 11% after the company announced that its merger with Volkswagen AG will probably be postponed. On the winning side became the third largest French bank – Credit Agricole SA, the loss for the quarter was less than expected thanks to the profits of the division of its investment banking.