The price of Crude oil went down
After the announcement of the director of FED, the price of American light crude oil went down. It reached 136.85 USD per barel with delivery in August. Probably this is due to hedge funds, which licvidated the long term oil possitions, because the limit for signing contract for cruide oil with deliveries in August finished tomorrow and the investors are directed to september futures.
But in spite of that fact the announcment of Bernanke gave its hand to decrease ot oil price. The chief of Federal Reserve sighted that the high price of the black gold is reacting unstable over the American economy and to the course of US Dollar. The logn term effect of this will be in decreasing of petrol requesting. Earlier yesterday the crude oil was signing its serial increase due to the weak dollar and the affraids of investors for future of bank sector. The US Dollar today reached the lowest value toward Euro from $1.6038. This forced the affraids of the investors of growing of inflation in USA.
The crude Brent oil with delivery in Eugust got cheaper with 7.64 US Dollars, which is nearly 5.3%, to 136.28 US Dollars per barel on the futures trade on London Stock Exchange.
Labels: Financial News
posted by Zoritza Petrova @ 10:03 PM
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