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 crude oil price is back below $ 70 a barrel last night, blotting out its minimum height of yesterday’s trading session in New York. The decrease is mainly due to renewed subsidence of the euro, which in turn is under pressure because of problems in the banking sector in Spain. At the time the single currency is moving to a serious decline 1,2280 EUR / USD, which is a retreat from more than 100 pips for the night. This is due to fears that Spain is facing a banking crisis, since Saturday the country was nationalized Savings Bank CajaSur. Exchange in New York yesterday, the price of U.S. light crude rose 0.2 percent to 70.21 dollars a barrel. At night, however, quotes about lost 1.5 per cent this morning raw material traded on 69.13 dollars a barrel. Yesterday in London Brent with delivery in July fell 51 cents to 71.17 dollars per barrel, but this morning the price of raw materials fell by more dollars to 70.17 dollars a barrel. The price of crude oil supported the strong US Dollar and in end of Asian markets session, the USD reached new high levels.
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The crude oil back above the level of 84 dollars a barrel and more expensive for a second day today after data from the American Petroleum Institute yesterday showed that inventories of crude oil in the country fell unexpectedly by 741 thousand barrels last week. Good financial results of several large U.S. companies from financial, technological and consumer sector also supported the positive investor sentiment about economic recovery, which would increase energy demand for raw materials sent Bloomberg. U.S. light crude oil is traded on the New York Petroleum Exchange, more expensive by 0.7 percent to 84.41 dollars a barrel in today’s times of e-commerce. The price of the June oil futures rose 72 cents to finish yesterday’s session at the level of 83.85 dollars a barrel. Oil with delivery in May, whose futures expired yesterday, rose $ 2 to 83.45 dollars a barrel. Meanwhile, the International Petroleum Exchange in London Brent crude supply in June with more expensive by 0.7% to 85.40 dollars a barrel in electronic trading today. The June futures ended yesterday oil session to increase the price of 57 cents, or 0.7 percent, to 84.80 dollars a barrel.
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The price of U.S. light crude fell sharply by nearly 3 percent by the end of today’s session of the oil exchange in New York and was its lowest point since the beginning of April, sent Wall Street Journal. The news that U.S. financial regulators have raised accusations against the U.S. investment bank Goldman Sachs for fraud mortgage securities, distressed investors on Wall Street and led to increased sales in the financial sector. According to financial analysts, if the financial regulatory authorities in the U.S. fined Goldman Sachs, it may cause the bank to liquidate their bets on oil price rises. The U.S. dollar rose strongly against most major currencies, excluding the Japanese yen, which lowered the price of raw materials, which are traded in dollars, including oil. U.S. light crude for delivery in May ended Friday’s session with a fall in price from U.S. $ 2.27, or 2.65 percent, to 83.24 dollars a barrel. Today’s decline in energy raw material was the strongest since the beginning of February. The price of oil futures varied in the range of 82.52 to 85.44 dollars per barrel during today’s session. Meanwhile, the International Petroleum Exchange in London Brent with delivery in June fell 1.66 dollars or 1.9 percent, to 85.93 dollars a barrel.
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The Oil price increase over the past day, which probably will offer a weekly rise of raw material. Appreciation gave rise to speculation that demand for oil in China will increase along with the acceleration of economic growth. On the New York Stock Exchange yesterday, with oil delivery in April ended the session with a minimum increase of 2 cents to 82.11 dollars a barrel this morning quotes add another 0.1 percent to 82.20 dollars per barrel. The price of black gold is moving with an increase of 0,9 percent for the week after the previous increase was reported from 2,3 per cent. Yesterday the price of oil make change direction several times, which was caused by movements in foreign exchange markets. They even were influenced by a series of news about the trade deficit and initial unemployment in the United States. This morning the currency pair euro / dollar is quoted at 1.3694 EUR / USD, which represents a minimal increase for the euro.
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The week started with the growth in oil prices. The reason for this is mainly speculation that OPEC’s new measures to curtail production will lead to a reduced supply of raw material. At the time of high interest are expected consumer confidence data in the U.S., which will be published tomorrow. Estimates for the improvement of the indicator, which can also lead to an increase in oil prices because of expectations that positive attitudes will be conveyed in the corporate sector. This morning American barrel light crude oil is traded with a growth of 0,5 per cent on Friday, as the quotations are close to 82 dollars per barrel. Last week, black gold has managed to rise by 2,3 per cent on Friday as only the price of oil has increased with 1,3 percent, reminds Bloomberg.
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The price of oil rises above $ 80 a barrel during electronic trading today in Asia, in line with increases in the indexes of securities markets in the region. Economic optimism today was fueled by news of the expansion of the factory sector in China and Australia, says the AP. U.S. light crude for delivery in April, more expensive by 56 cents to 80.22 dollars a barrel during electronic trading on the New York oil exchange. Oil futures rose by 1.49 dollars or 1.9 percent, to finish the last session in February at a level of 79.66 dollars per barrel. Within the energy input of February rose by over 9% during the last five months its price ranges from 69 to 84 dollars per barrel. Most strongly on price levels in recent months reflect data on oil stocks and demand in the U.S., and the change in the rate of the dollar. International petroleum exchange in London Brent crude supply in April with more expensive by 54 cents to 78.13 dollars per barrel.
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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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The quotes of the Asian oil trading today remained just below $ 77 a barrel and stopped fall, which at the end of last week saw prices of raw materials, but the stock players after very careful how I move the other two markets – equity and currency. Especially careful they will be in today when the market actually works in the U.S. after official Thanksgiving holiday shopping craze and “Black Friday.” Then I will make clear how the threat reverberated from Dubai, said Reuters. The agency reminds that at the end of last week provoked emirate markets, announced unavailability of the government investment fund Dubai World and its subsidiary development company Nakheel to pay its obligations. According to Bloomberg agency stabilization of oil prices is mainly due to the promise of the other 6 Emirates to help and first decision of the Central Bank of the United Arab Emirates to financially support local businesses if the crisis in the Dubai World overtake them. U.S. light crude oil increased marginally by 0.14 percent to 76.16 a barrel. On Friday last week with quotes for oil delivery in January fell by 2.5 percent and stopped to $ 76.05 a barrel. Bloomberg calculations show that oil notes monthly decline 1.3 percent in November compared to October.
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