The Black Gold Price Down to USD82

black-goldWorld crude oil prices fell dikisaran level USD82 per barrel in trading Thursday (7/1/2010) local time, after a touching its highest level since October 2008.

No other triggers, the price of fuel that exceeds the highest level in 2009, along with winter and a flood of speculative money. But winter is not merely a reference point for the improvement in demand for fuel.

As quoted by AFP, Friday (8/1/2010), the contract prices for February delivery fell 52 cents thin to USD82, 66 per barrel in trading the New York Mercantile Exchange (NYMEX), along with an increase in United States dollars (U.S.) . While in London, the price of Brent oil for February contract fell 38 cents to U.S. $ USD81, 51 per barrel on the ICE Futures.

Some funds increasingly flow into oil trading in line with the weakening U.S. dollar yesterday, making cheaper oil prices for the collectible. A weaker dollar makes oil priced in dollars and other commodities more attractive to buyers using other currencies are becoming stronger. Financial markets also digested a report showing good results for the end of 2009.

Department of Energy (DoE) American reported on Wednesday that crude oil reserves rose 1.3 million barrels in the week ended January 1, in the range of 300 thousand barrels. In addition, the market is also waiting for a report of fuel stock that is used a number of consumers in the face of cold weather, especially in northern areas that require the greatest energy.


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