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MAKE MONEY BLOG$, New York - Crude oil prices last Friday fell to its lowest level since early February of data melemmahnya impact of job creation in the United States (U.S.) in April, adding to fears yesterday to global recovery.
Crude oil prices fell U.S. $ 4.05 (3.95 percent) to U.S. $ 98.49 per barrel at the end of last week's transactions on the stock komdoitas New York (NYMEX). This is the biggest downfall in per cent since December 14 last year and is the lowest position since 7 February.
So in a week oil prices have dropped 6.1 percent, the worst performance of the five daily since 23 September last.
"Data of labor expected to be strengthened before it disappointing.Now the market back to reality that the economic slowdown will undermine demand for global markets, "said Phil Flynn, vice president of PFG Best in Chicago.
U.S. Labor Department last Friday's employment data released in April grew yesterday only 115 thousand inhabitants, far below the expectations of economists surveyed by MarketWatch workforce by 163.
"There is no way to explain this data, and no one can explain these numbers," said James Cordier, portfolio manager at Optionsellers.com in Florida. "The U.S. economy is slowing and now no one to argue anymore."
Data - the disappointing economic data increased concern about the strength of the economy and reduce oil demand in the U.S., which is the largest consumer of oil in the world.
U.S. oil inventories are near record highs also helped trigger the collapse of oil prices after rising in six consecutive weeks and reached its highest level in 21 years.
The traders also sold the latest regulatory changes to address the authority of the U.S. commodity exchanges are required to add funds to apply within 90 days.
The price of gasoline for June also fell 7 cents (2.4 percent) to U.S. $ 2.98 per barrel. Heating oil slid 8 cents (2.5 percent) to U.S. $ 3 per gallon, so as to achieve a record low since January 20. Natural gas prices eventually decrease 6 cents (2.6 percent) to U.S. $ 2.28 per million Btu, after rising 4.3 percent in the previous two weeks.
MarketWatch / VIVA B. K
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Crude oil prices fell U.S. $ 4.05 (3.95 percent) to U.S. $ 98.49 per barrel at the end of last week's transactions on the stock komdoitas New York (NYMEX). This is the biggest downfall in per cent since December 14 last year and is the lowest position since 7 February.
So in a week oil prices have dropped 6.1 percent, the worst performance of the five daily since 23 September last.
"Data of labor expected to be strengthened before it disappointing.Now the market back to reality that the economic slowdown will undermine demand for global markets, "said Phil Flynn, vice president of PFG Best in Chicago.
U.S. Labor Department last Friday's employment data released in April grew yesterday only 115 thousand inhabitants, far below the expectations of economists surveyed by MarketWatch workforce by 163.
"There is no way to explain this data, and no one can explain these numbers," said James Cordier, portfolio manager at Optionsellers.com in Florida. "The U.S. economy is slowing and now no one to argue anymore."
Data - the disappointing economic data increased concern about the strength of the economy and reduce oil demand in the U.S., which is the largest consumer of oil in the world.
U.S. oil inventories are near record highs also helped trigger the collapse of oil prices after rising in six consecutive weeks and reached its highest level in 21 years.
The traders also sold the latest regulatory changes to address the authority of the U.S. commodity exchanges are required to add funds to apply within 90 days.
The price of gasoline for June also fell 7 cents (2.4 percent) to U.S. $ 2.98 per barrel. Heating oil slid 8 cents (2.5 percent) to U.S. $ 3 per gallon, so as to achieve a record low since January 20. Natural gas prices eventually decrease 6 cents (2.6 percent) to U.S. $ 2.28 per million Btu, after rising 4.3 percent in the previous two weeks.
MarketWatch / VIVA B. K
source:
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