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 prices rose sharply to their highest levels since 2008, and gold continued to become more expensive for the sixth straight day, going over 1400 dollars an ounce for the first time in seven weeks. The occasion is the expansion of civil unrest in the Middle East and North Africa. Escalating violence in the third-largest oil producer in Africa – Libya made several major oil companies to suspend their operations in the country and to evacuate their foreign staff. The shares in European and Asian companies operating in the Middle East, fell heavily in today’s session. Stock markets in the U.S. will be closed for national holiday. U.S. light crude for delivery in April, rising by 4.2 percent to 93.49 dollars a barrel in electronic trading on the New York Petroleum Exchange today. Brent crude, meanwhile, dealt with an increase of 2.4% to nearly 105 dollars a barrel, its highest price level for the past two years. The gold, meanwhile, rising by 1% to 401.60 dollars an ounce as investors sought refuge in it against the backdrop of political uncertainty in the Middle East and North Africa. Earlier today the price of gold for delivery in April jumped to 1,404 dollars an ounce. The silver hand rose to 33.5175 dollars per ounce, exceed 33 dollars for first time in 30 years.
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The economy of Ukraine has contracted by 7% in the fourth quarter of 2009 over the same period the previous year. This was the smallest decline in gross domestic product (GDP) in the country last year, police Bloomberg. The main reason for this probably lies in increasing exports in the last months of 2009, which gives impetus to the industrial production of Eastern European countries. Preliminary statistics do not give details of individual components of GDP. For comparison, the GDP of Ukraine decreased more strongly by 15.9 percent in the third quarter, 17.8 percent in the second and 20.3 percent in the first three months of 2009. Ukraine plunged into recession in the fourth quarter of 2008, after the global economic crisis undermines demand for steel, which occupies a central place in its exports. Meanwhile, in 2009 require the Government to grant aid of 20 of the largest banks in the country. Ukrainian bracelet is impaired by 42% against the U.S. dollar since the beginning of September 2008 as the political crisis in the country has caused the IMF to stop to pay the loan from EUR 16,8 billion allocated last year to enable Ukraine to finance its budget. According to economists RBS Ukrainian economy remains in poor condition despite the appreciation of the metals and the depreciation of local currency last year. During today’s foreign exchange session one Ukrainian bracelet be exchanged for 8.0215 U.S. dollars.
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