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11/6/11

Oil prices reached the highest weekly in 2 years?

NEW YORK. Oil prices in New York reached the highest price in two years last week. This was led by a decline in U.S. joblessdata to create sentiment in the U.S. oil demand will increase.


Crude oil for delivery in December 2011 increased 0.2% to as low as U.S. $ 94.26 per barrel on the New York MercantileExchange. This is the highest price since August 1, 2011.

These prices also have risen to the highest price since 3 April 2009. Commodity exchanges has increased 3.2% in 2011. WhileBrent oil also rose 1% to the price of U.S. $ 111.97 per barrel on the ICE Futures Europe Exchange.

Euro-zone risk factor for oil prices. "The skepticism of investorsis still high on the Greek bailout agreement will successfully overcome the crisis of Europe," said Gene McGillian, analyst atTradition Energy in Connecticut.
source: kontan.co.id
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