The crude oil price continues to fall, but still stood near the level of 70 dollars per barrel. This is happening against a background of very sharp movements in the 3-4% upward and downward direction. During the exchange session in New York yesterday, the price of black gold fell 2.1 percent to 68.75 dollars, while during the session to losing more than 4 percent of its value. This morning, however, quotations with advancing 0.64 percent to 69.39 dollar after early night again were over the threshold of $ 70 a barrel. The main reason for the sharp drop in the price of black gold during yesterday’s trading session was a sharp setback for the euro against the dollar. This limited interest in investing in raw materials and pushed down their prices. The reason for the deletion of the losses in oil prices gave the report of the American Petroleum Institute gasoline stocks, which last week rose unexpectedly to 3.19 million bbl. This gave the effect of speculation that demand for fuel is increasing, supporting quotations.
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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 crude oil retreated positions in the last day, decreasing by about 1 percent. However, black gold is moving with growth of 1 percent since the beginning of the week. Fall in crude oil prices in the last day due to the strengthening of U.S. dollar positions. Simple movements in favor of the dollar in currency markets led to a restriction of interest in investing in commodities. On the New York Stock Exchange yesterday, oil prices with delivery in April fell by 0,9 percent to 82.20 dollars per barrel. Night quotations continued to retreat this morning were at 82.07 dollars a barrel. So oil is permanently retained over 82 dollars a barrel, after jumping over that line earlier in the week. The reason for the upturn gave the position of the U.S. Federal Reserve, which announced that interest rates in the United States will remain near zero for a long time.
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The price of crude oil increased sharply in the past day and the quotations passed over 77 dollars a barrel. Major role it played for speculation that Greece will not need support from the EU to cope with the limitation of their budget deficits. This led to strong growth in the price of the euro, which restored much of the lost against the U.S. dollar in recent days. The single currency rose to 1,3770 EUR / USD, having risen to 1.28 percent yesterday. However, since November the euro is moving with a decline of 9 percent. For the positive sentiment in the oil market influences and optimistic ending the session on the New York Stock Exchange. Because good news for the region’s manufacturing activity in New York yesterday, the shares registered in the U.S. growth rates. As a result of all this, within yesterday’s trading session in New York, U.S. light crude rose by as much as 3.9 per cent (2.88 dollar) to 77.01 dollars per barrel. Thus was achieved the highest growth of 30 since September last year. Night quotes continued its upward movement this morning and move to more growth of 0,5 per cent to 77.37 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 exchange rates of the Asian oil trading slightly more expensive today, reports agency Reuters. Reason for the rise the investors interest to benefit from a minimum 17-month price reached late last week. They apparently decided to take advantage of the chance to buy “black gold”, which is expected to rise due to bad weather conditions in the U.S. and Europe. Notwithstanding the rise in quotations is not expected sharp jump. Players of the exchange do not want to risk much. They are discouraged by good results for the unemployment in the U.S. and are concerned about budget problems in Greece. Gentle crude for March delivery rose 55 cents to $ 71.74 a barrel. On Friday trading in New York close of a 17-month minimum of $ 71.19 per barrel. In the variety “Brent” futures rose by 63 cents to $ 70.22 a barrel. Additional pressure for oil price rises may have tensions over Iran and the decision by President Mahmoud Ahmadinejad to start producing enriched uranium.
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The price of crude oil fell in Asian trade because of fears that lending in China will reduce the pace and because of expectations that stocks will rise in the U.S. for the third consecutive week. Among the reasons for the decrease in cost of raw materials and the growth was the dollar to levels of 1.4196 EUR / USD at 1.4288 EUR / USD yesterday. U.S. light crude for delivery in February fell by 82 cents, or 1 percent to 78.20 dollars a barrel in afternoon trading on Asian trade. Today is the last trading day of the February futures. The more active the March contracts fell by 72 cents, or 0.9 percent to 78.60 dollars per barrel. Yesterday the price of raw materials rose by 1.02 dollars or 1.3 percent to 79 dollars for barel.
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The crude oil price fall for the sixth consecutive session in Asian trade today because of this that the stocks of raw material is more than sufficient to meet demand, which will be very slow recovery to the economy. Oil prices continue to be quoted under $ 78 a barrel after Qatar’s Energy Minister Abdullah al-Atiya said yesterday that the Organization of the countries of exporters of oil will not change their production quotas. U.S. light crude oil with delivery in February fell by 93 cents, or 1.2 percent to 77.07 dollars a barrel in Asian trade but then recovered positions to 77.87 dollars per barrel. Last week’s contract was down by 5.7%, which was first decreased by five weeks onwards. Brent with delivery in March fell 72 cents, or 0.9 percent to 76.39 dollars a barrel in electronic trading on the London Stock Exchange.
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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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