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Oil rises above $80 amid stock market surge
Oil prices rose above $80 a barrel today in Asia as crude investors eyed a surge in global stock markets. - Crude oil imports fall 41% to $31.6 bn in H1 - IAEA chief urges Iran to cooperate on nuke issue - Oil extends gains in Asian trade - Alfa Laval India bags Rs 70-cr project - Oil higher in Asian trade, investors cautious - Six missing IOC staff feared dead in Jaipur fire Benchmark crude for December delivery was up 47 cents to $80.09 a barrel, at midday Singapore time, in electronic trading on the New York Mercantile Exchange. The contract fell 78 cents to settle at $79.62 on Thursday. Oil traders often look to stock markets for a sense of overall investor sentiment, and the Dow Jones industrial average rose 2.1 per cent yesterday on better-than -expected jobless claims numbers and positive forecasts by Cisco Systems Inc. All major Asia indexes were also up in early today trading. Crude investors are also watching signs in recent weeks of a drop in US oil supplies, which increased sharply this year as demand shrank. Some analysts forecast higher oil prices next year as the economy strengthens and demand recovers. "We expect fundamentals to improve as oil demand growth resumes," Morgan Stanley said in a report. "Until the oil market tightens, oil will be dragged in the wake of other risky asset price moves." Morgan Stanley said it expects oil to average $85 a barrel next year.Payday cash advance commented:
The time of the crisis is coming up and it is a matter on which the proper attention should be given
05.08.2011
Quick Loans commented:
Hope that this crisis situation will be able to handled by the people and there will not be any issues there
06.09.2011
Tax Services Australia commented:
Oil price has really gone up and crisis is due to oil price only as it gives rise to all commodity.
28.09.2011
payday loan commented:
Crude investors are also watching signs in recent weeks of a drop in US oil supplies, which increased sharply this year as demand shrank.
22.11.2011
Team building games commented:
Oil prices has risen up.Proper attention should be taken care in this regards.Thanks for such informative post.Hope that this situation will be handled soon.
09.02.2012