Saturday, April 30, 2011

Crude prices continue to surge

Source: Press TV

Crude oil prices have passed 114 dollars a barrel for the first time in 31 months, posting the eighth consecutive monthly rise.

New York's light sweet crude for delivery in June hit $114.18 a barrel minutes before the market closed on Friday, AFP reported.

Experts believe the surge, the highest peak since September 22, 2008, is due to dollar's continuing slide against other major currencies.

The West Texas Intermediate contract finished at $113.93 a barrel, up $1.07 from Thursday's closing, and Brent North Sea crude for June delivery rose to nearly $126 a barrel in London.

The price of the New York benchmark also climbed 6.7 percent against the month of April, and about 25 percent since the beginning of the year.

Both US and Brent crude bounced from early dips after data indicated that inflation in the eurozone rose above the European Central Bank's speculations in April.

Eurozone inflation rose to 2.8 percent in April from 2.7 percent in March, according to a first estimate from the European data agency Eurostat.

No comments:

Post a Comment

Thanks for commenting on this post. Please consider sharing it on Facebook or Twitter for a wider discussion.

Russia Today (Live)

World News 2017

South Front Military Review 2017

Syria - News 2017

Venezuela News and Opinion

Yemen News 2017

Palestine & Israeli Crime 2017

Iraq News 2017

US News 2017

Debate – Global Issues 2017

Current Affairs - Important Interviews – 2017

Important Information 2016 - 2017

The Russian Perspective

Turkey News 2017

Ukraine News 2016 - 2017

Iran News 2016 - 2017

Important Documentaries

Viewpoint, Discussion & Opinion - 2017

Global Economic News 2017

Egypt News 2016 - 2017

Libya News 2016 - 2017

Bahrain News 2016 - 2017

Abby Martin – Empire Files

George Galloway – Comment & Opinion

Sheik Imran Hosein - Islamic Eschatology

English FA Cup 2016 – 2017

New Age Weather

Space News

Music for the Revolutionary Mind

Global Revolution LIVE!

Watch live streaming video from globalrevolution at

Japan’s 3 Nuclear Meltdowns STILL ongoing (News Censored)