Oil
Brent oil prices back down to USD113/Barel
London crude oil prices fell 68 cents, aka Brent to USD113, 90 per barrel on concerns related to the resolution of the Greek debt talks to avoid a default that still has not come to fruition.
Quoting Reuters, Tuesday (07/02/2012), crude oil the United States (U.S.), West Texas Intermediate (WTI) or Texas light sweet crude for March delivery fell $ 1, 03 to USD96, 81 per barrel in electronic trading on the New York Mercantile Exchange (NYMEX). After rising $ 1, 48 to USD97, 84 on Friday.
This, due to worries traders in Greece if political leaders fail to agree on the possibility of austerity measures demanded by the new international bailout rescue team if it did receive more bailout loans. › Continue reading
Oil Prices Touch USD100/Barel Thanks to the Fed
Crude oil prices rose again due to the central bank’s plan of the United States (U.S.) or U.S. Federal Reserve (Fed) to maintain its interest rate until the end of 2014.
After meeting to discuss the policy, which took place over two days, the Fed declared the U.S. economy is sufficiently developed, despite the global economic slowdown, the U.S. unemployment rate is still high and the economy faces significant downside risks.
“This bodes well for the U.S. dollar to strengthen, and higher commodity prices as the Fed will continue to restrain inflation as part of efforts to revive the U.S. economy,” said Again Capital LLC, John Kilduff, in New York, as reported by Reuters , Thursday (26/01/2012).
“We saw some policymakers in the Fed, choose to see the first increase in interest rates this year, with several others looked at the increase in 2016. In terms that might be a long-term investors may be detained, on accommodation policies of the Fed,” said PFGBest Research analyst Phil Flynn in Chicago. › Continue reading
Oil Gains 13% in 2011
Throughout the year 2011 oil prices rose as much as 13 percent. The increase is the impact of the instability that occurred in various countries such as the Middle East and Africa, which disrupt the supply giving rise to concerns about the economy in many major countries.
In 2011, various problems arise such as geopolitical threats and riots that occurred in eastern Tengan such as Arabic, so close to the faucet exports from OPEC member Libya.
Various problems are managed to hoist the Brent crude oil prices throughout 2011 rose on average by 13.3 percent, or approximately USD111 per barrel, which surpassed the previous annual record which reached $ 100 per barrel in 2008.
“The price increase in 2011 was made in which the price is very volatile in early October 2010 the price of oil fell to its lowest point to USD75 ago in early May 2011 to be approximately USD115,” the president said Jim Ritterbusch of Ritterbusch & Associates as reported by Reuters. › Continue reading