October 28, 2008

The courses of oil set out again with the rise



The courses of oil were turned over to the rise Tuesday morning, in the wake of the progression of the Asian markets actions.

Towards 5:30 GMT, the contract December on the American light crude gained 78 hundreds, that is to say 1,23%, with 64,00 dollars the barrel and Brent took 44 hundreds (0,72%) to 61,85 dollars. ( Finance Information City )
The courses of the crude had moved back before in the wake of the fall of these same Asian markets, on fears of a recession which would start the world oil demand.

But the Stock Exchanges in Asia then reconsidered in the green, following the example that of Tokyo, which finished in rise of 6,41%, purchases cheaply and whereas the yen weakens.

The contracts on the crude had enclosed in clear fall Monday - of more than 3% and with low since May 2007 - a meeting in teeth of saw which copied that of Wall Street but where fears of recession, and their foreseeable impact on the oil request, finally dominated.

And this although OPEC decided Friday to reduce its production of 1,5 million barrels per day. For many speakers, this reduction in urgency by the trust Friday in Vienna will not be enough to stop the fall of the courses.

The gesture of OPEC intended to reduce the offer to try to support the prices has in fact answered the multiplication of signs of reduction in the request, inter alia in the United States, first consumer world of oil products.

The barrel posts from now on a dive of almost 60% compared to its records to there are three months and half with more than 147 dollars.

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