Oil ends up on the rise in New York: $100,71 per barrel

The oil finished with a strong rise on Tuesday in New York, driven by economic indicators positive in United States, Europe and China and by the persistent tensions in the front of the supply.

"Light sweet crude" barrel for February delivery ended at 100,71 dollars on the New York Mercantile Exchange, a rise of 2.01 dollars over the closing on Friday. The market was closed on Monday, holiday in United States.

In London, the Intercontinental Exchange, a barrel of Brent North Sea for March gained 19 cents to 111,53 dollars on Monday.

Prices had ended the week below the 100 dollars.

"Oil is on the rise after a negative week last week (...)" "due in large part what makes that they go the other raw materials", said Bart Melek of TD Securities.

"Data of china's economy better than expected, the German confidence index and the" u000a"manufacturing confidence index of New York from January that recorded relatively good results" do expect a rise in crude oil, he detailed.

"In practice, markets ignored to S & P", stated, in reference to the cut of the note of sovereign debt of nine European countries carried out Friday by the US credit agency Standard & Poor's.

As long, as tensions between Tehran and Western countries kept the prices in a market that anticipates a drop in supply days prior to the Summit (scheduled for January 23) where the European Union should set the modalities for the embargo to Iranian crude.

Another important factor influencing rising prices, according to analysts, is the statements of the oil Minister of Saudi Arabia, who claimed in an interview broadcast on Monday that his country could be quickly compensated for a fall of imports of oil Iran in case of an embargo, and in addition u000aHe expressed his desire that prices were "stabilize around $100 per barrel".

Share this article

Digg it!

del.icio.us

MySpace

Facebook

Fark

Reddit

Newsvine