The crude oil prices surged to their highest levels for the past more than two years against the backdrop of increasing violence in Libya, which has fueled fears that supplies of crude oil from the Middle East and North Africa will be violated because of burning civil conflicts in the region. The U.S. light crude for delivery in April rose sharply by nearly 10% of the last regular session of the New York Petroleum Exchange on 18 February, and the price of Brent jumped to its highest level in more than two years because of anti-government protests in Libya. Brent is likely to trade between 105 and 110 dollars a barrel in the coming weeks, if the uncertainty in Libya continues. The U.S. light crude for delivery in April rose to 98.48 dollars a barrel in electronic trading yesterday, but today its price is 97 dollars per barrel. The session ended on Friday at a level of 89.71 dollars per barrel. All U.S. financial markets were closed yesterday for the celebration of National Day. The March oil futures, which expire today, the rise of nearly 9% on Friday to 93.85 dollars per barrel. Their price has risen by 16% over the past 12 months. The Brent for delivery in April, meanwhile, rising by 2.3 percent to 107.95 dollars a barrel in today’s pre-trading on the London Petroleum Exchange. During yesterday’s regular session price rose strongly by 3.1 percent to 105.74 dollars per barrel, the highest level since September 2008.
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The first day of the new week brought an increase in gold prices and cheaper petrol. This is due to the strong decline in risk appetite among investors for uncertainty about the future of Ireland. Yesterday it became clear that the country has requested international assistance to solve their problems, which in turn cause a weakening of the euro. The single currency retreated positions as the only within little more than half a year is required rescue the second member of the eurozone. Today, the euro fell significantly to 1,3608 EUR / USD. This happened despite the known progression common currency in early trade this week. The first trading session bring cheaper oil from 0,3 percent to 81.74 dollars a barrel on the New York Stock Exchange. The lowest price reached during the day was 81.61 dollars per barrel. Zltoto hand rose 0.4 percent to 357.80 dollars an ounce.
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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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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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