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Oil is dropped by nearly 7 dollars, the exchanges in the U.S. with significant growth |
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Saturday, 23 August 2008 |
The price of oil consecutive record his movement sharply in the last day of the working week, losing 5.5 percent of its value, which has the largest percentage decrease in quotations from December 2004 onwards. The significant cheaper petrol has led to optimism among investors in shares and U.S. stock indices noted significant increases.
A major role in the fall in the price of oil played a stabilisation of the U.S. dollar, which has increased by nearly 1 percent against the euro after the head of the Federal Reserve Ben Bernanke said U.S. inflation expected to fall in coming months and that the central bank is ready to do whatever is necessary to keep the appreciation of life under control.
For the fall of quotations and contribute to the VR message that the supply of Caspian Sea through Turkey were recovered. They were suspended in the early months after the oil pipeline from Azerbaijan to Turkey fire erupted and needed to stop transmission of oil.
As a result of all this oil contracts with delivery in October still 5.4 per cent (6.59 dollars) and the weekly trade stock exchange in New York closed at 114.59 dollars for a barrel petrol . Decreases yesterday was the biggest percentage setback oil from December 27, 2004 onwards. In nominal terms this is the biggest fall of January 17, 1991, when the Americans have forced Iraq to withdraw from Kuwait, reported AP.
Yesterday after the fall quotations were able to delete strong slumping since Thursday, when the oil price increase by 6.20 dollars due to increased tension in US-Russia axis. So the raw materials ended the week with a minimum increase of 0.6 percent.
And marked decline of the exchange auction in London Brent oil from the variety, which yesterday lost 6.24 dollars (5.19 percent) to 113.92 dollars for a barrel. Thus weekly slumping black gold of the Luxembourg Stock Exchange was limited to 1.2 percent.
The strong cheaper oil has led to considerable optimism on stock exchanges in the U.S., although the turnover of exchange in New York to was significantly lower than usual. The main Dow Jones index rose by 1.7 percent (197.85 points) to 11 628.06 points, a broad index S&P 500 has increased by 1.1 percent to 1 292.20 points.
Volume of shares sold in the last session for the week amounted to 888 million units, which is the lowest value for the full session from December 26 onwards. Overall, during the previous week turnover of the exchange was by 35 per cent below that for comparable period year earlier, reported Bloomberg. |
Finances and Markets 
