The crude oil prices rose sharply by almost 4 percent during today’s session of the New York Petroleum Exchange, after data of the Ministry of Energy of the United States showed an increase in demand for energy inputs in the country last week. The price of U.S. light crude for delivery in July run at an increase of 2.56 dollars or 3.7 percent, to 71.31 dollars a barrel. The increase was greatest for the last three months, Reuters reported. Economic pessimism in financial markets the price of oil slumped to 68 per barrel on Tuesday. Strong decreases in commodity prices and shares in recent days, however market players were invited and managed to overshadow concerns for debt crisis in Europe. Meanwhile, the International Petroleum Exchange in London Brent crude oil more expensive to 1.97 dollars to 71.52 dollars a barrel. Thus, the July oil futures so ended their losing series, which lasted nine consecutive days. At the beginning of this month the price of oil rose to almost 84 dollars a barrel, its highest level in 19 months. Instability in financial markets has decreased in January by 23% over the next three weeks because of the appreciation of the dollar and deteriorating prospects for world economy in the context of debt crisis in Europe.
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The crude oil price stopped retreat, which began late last week and managed to erase some frustrating than $ 2 per day for the past. Major role played optimism about the stock market, which inspire confidence that the economy evolves, and this will lead to increased demand for oil. Although during most part of yesterday the black gold can be traded with a decrease of about $ 2 a barrel to Friday, in the end of the trading session in New York Stock Exchange has brought growth in the April futures price of 63 cents to 81.60 dollars barrel. The deadline for trading contracts for the supply of crude in April ended yesterday and this morning Mayan futures traded at 81.42 dollars a barrel. In certain moments of yesterday moved to the oil drop, exceeds 2,5 per cent. This was mainly caused by the split on options for EU action to rescue Greece. Pressure proved quotes and data for growth of oil reserves in China. The Exchange in London yesterday with Brent crude supply in May rose by 0,8 percent to 80.54 dollars per barrel.
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The Crude Oil price trend remains and will likely finish with growth during that week. Optimism for the restoration of fuel demand and expansion of China stepped up trade in oil markets. Valuable raw materials rose after OPEC applications whereby at the end of last month there growth of supply for China. This morning session unattended electronic exchange in New York lightest crude oil is traded for 82.20 dollars per barrel. At the end of trading session on Thursday, the price of raw materials reached 82.11 dollars per barrel. Analysts expect the week to end with a growth rate of around 1 percent, after increases of 2.3% last week. To help increase trade and strengthening of the euro on world markets - trading began this morning at 1.3694 dollars per euro.
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