World oil prices terdongkrak increased economic U.S.
NEW YORK: Oil prices traded near the highest in 10 days in New York after the signs of economic improvement in the U.S., the world's largest consumer of crude oil, triggering speculation that demand for fuel can be increased.
Oil futures for June delivery rose as much as 0.9% as the dollar slumped to its lowest in 15 months against the euro and equity markets rally after Apple Inc. 's earnings projections. beyond prediction. Previously the Department of Energy reported an unexpected decline in U.S. crude supplies and a decrease in gasoline supplies.
"The advantage of oil today is obtained from a combination of a strong euro and the continuing good news from the stock market," said Robert Montefusco, a senior broker at Sucden Financial in London. "Statement of the Department of Energy yesterday helped a lot, and we should get an increase in demand next month after the holidays."
Crude oil for June delivery rose as much as U.S. $ 1.03 to U.S. $ 112.48 per barrel in electronic trading on the New York Mercantile Exchange, the highest price since April 11. On Thursday at U.S. $ 111.71 at 1:37 pm London time. Today the market closed for the Easter holiday.
Brent crude for June was trading at U.S. $ 123.91 per barrel, up 6 cents, on perdaganganICE Futures Europe in London. Last Thursday Brent rose U.S. $ 2.52 or 2.1%, to end the trading session at U.S. $ 123.85, its highest close since April 11.
Premium European benchmark for the U.S. futures markets narrowed to U.S. $ 12.21 per barrel from U.S. $ 12.40 on Thursday. The difference between the contract next month in London and New York soared to a record U.S. $ 19.54 on 21 February.
Energy Department data released in U.S. crude oil supplies fell 2.32 million barrels to 357 million last week, the first decline since February. Inventories are expected to rise by 1.3 million barrels, according to the median estimate of 13 analysts in a Bloomberg News survey.
The report also showed gasoline stockpiles fell 1.58 million barrels to 208.1 million, the lowest level since the week ending November 12. Stock expected to decline by 1.75 million barrels.
Oil prices are still shadowed by the political unrest in the Middle East and Africa. Meanwhile, from Africa's largest oil producing country reported at least 153 people were killed in northern Nigeria in rioting by supporters of opposition candidate Muhammadu Buhari, who lost the presidential election April 16.(23) (mrp)
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