Sunday, September 2, 2012

Bernake's Speech To Raise The Price Of Crude Oil

Ilustrasi. (Foto: Corbis)NEW YORK -crude oil price of Brent back rise above USD114 per barrel after a volatiletrading. Speech by Federal Reserve Chairman Ben Bernanke appears to be a precursor to a rise of crude oil prices amid fears of oil supply.

Bernake is indeed not giving signal when relaxing monetary addition done, but the door to such policies continue to open. On the other hand, Brent has had a profit of nine percent in August.

However, the order number of the factory in United States (U.S.) had the largest increase in July in 12 months, up 2.8 percent. The University of Michigan in its survey, the index of consumer sentiment shows depicts the Ascension becomes 74,3 in late August, early in August of 73,6.

"There is no announcement if the stimulus is coming soon, but he (Bernanke) said the Fed was ready to act if necessary. Along with that, the factory orders and consumer sentiment data, recorded still in control. I think that's enough (bring positive sentiment), "said analyst Tradition Energy in Stamford, Gene McGillian, as reported by Reuters, from Saturday (1/9/2012).

Brent crude closed up USD1,92 be USD114,57 per barrel, its highest level in USD114,78 per barrel. Brent has recorded a rise of 9.2 percent in August, the largest monthly percentage increase since prices jumped 10.5 percent in February, added the rally seven percent in July.

While U.S. crude oil, West Texas Intermediate (WTI), up USD1,85 and settled in USD96,47 a barrel, after briefly noted in USD96,68, the highest level of resistance that key level traders. U.S. crude oil rose 9.6 percent in August, the biggest percentage increase since October 2011.

In addition, U.S. heating oil for September delivery also rose to USD3,1696 4.51 cents per gallon, up 11.5 per cent and for the delivery of the largest monthly increase in August, the percentage since September 2010. While gasoline RBOB for September, up 2.30 cents per gallon, has never been USD3,1056 up 6.5 percent in August, following an increase of 6.8 percent in July.

Relatively high trading Volume ahead of the long weekend in the US, with turnover up six percent over Brent average 30 days. Volume average of 30 trading days, U.S. crude was in the range of lina percent. (Exspost News)

Exspost News

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