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NEW YORK, MAKE MONEY BLOG - Crude oil prices in New York, on Monday or Tuesday (8/21/2012) morning down to the thin figure as the Central Bank of Germany would not support a plan that will be the European Central Bank to resolve the crisis in the zone the euro and the U.S. dollar weakened against the euro.
Price of West Texas Intermediate crude for September delivery fell 4 cents to 95.97 dollars per barrel, on the New York Mercantile Exchange. However, in intraday trading, the contract's dollar touched 96.53 which is the highest price since May 11, 2012.
Brent oil for October setting down 1 cents to 113.70 dollars a barrel on the ICE Futures Europe exchange, based in London. German central bank, the Bundesbank, the European Central Bank criticized a plan that would buy government bonds indefinitely. The plan will be the European Central Bank in an effort to resolve the crisis in the region.
On the other hand, the U.S. dollar weakened against the euro as the Greek Foreign Minister Dimitris Avramopoulos who said, Greece will meet the requirements to get their fiscal bailouts.
The euro strengthened 0.1 percent to 1.2346 dollars. A stronger euro helped oil prices do not fall significantly. "Bundesbank statement indicates that there is still much disagreement concerning how to deal with the debt crisis in Europe," said Phil Flynn, senior market analyst with Price Futures Group in Chicago.
Source: kompas.com
Editor: Kistyarini
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