The oil markets are more optimistic with Obama
Today, oil markets are consolidated, as the one hand on the price of black gold continues to exert pressure global recession and falling demand, on the other there is hope that plans to support the banking system and to stimulate the U.S. economy will resume soon economic growth globally and especially the demand for oil in the country, which is the biggest user of raw materials in the world. Yesterday the price of oil futures with delivery in March rose by 6.6 percent, supported by growth of capital markets after the new U.S. president announced a program to assist the banking sector, which can be funded by the financial package to stimulate the economy.
But now oil prices are under pressure in anticipation of data on the reserves of U.S. companies with oil and petroleum products, which are expected to register growth for last week. Today, at the beginning of the session of the European markets contracts for the supply of oil in March WTI variety cheapen during electronic trading in New York to 0.07 percent, to 43.52 dollars per barrel At the same time, in a variety of London Brent futures fell by 0.11 percent to 44.97 dollars per barrel. The price of oil fell by 2.4 percent from the end of December so far and 52 percent on an annual basis. Yesterday in New York index of top U.S. companies, Dow Jones ended the session with a rise of 279.01 points or 3.5 of the WTO to 8 228.1 points, while the broad U.S. stock indicator Standard & Poor's 500 rose by 4.4 of the WTO, to 840.24 points. On the other hand, the economies of Japan, China and South Korea are showing greater signs of slowing, as was reported today that the Chinese GDP growth for the fourth quarter of 2008 decreased to 6.8 percent. And I was in Japan reported decrease in exports by 35 percent in December, while growth in the economy of South Korea's funny to 5.6 percent in the last quarter.
Labels: Financial News, Politic News
posted by Zoritza Petrova @ 12:56 AM
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