Petrol started with price of 101 USD
Petrol started the the day with a level of over 100 USD per barel. The American late session finished with over 101 USD per barel. The large flow of capitals from the hedge funds, also the continuous apprehensions for soon decreasing of daily rate of OPEC, supported the price to new top level.
This morning, American light petrol was trading with increasment of 44 cents to the level ot 100.14 USD per barel. The same reached its top level yeasterday to the level of 101.32 USD. In spite of high prices of the petrol, they are still under the top from April 1980, which was 101.70 USD per barel calculated with inflation. Then the news for Iran's revolution, brought to petrol shock and unbelievable high prices of the crude oil.
London's brent petrol increased with 46 cents to 99.03 USD per barel.
According to analyzers, growing inflation in world measure and extremely in USA, is making the funds to hedge the market risk and to invest in petrol and gold futurers. "In the moment the price is absolutely unjustified.The people are buying, because other players are buying and there is such magic circle", commented Australian analyzer.
Labels: Business News
posted by Zoritza Petrova @ 12:30 AM
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