Crude Oil Prices Rise in Thin Asian Session, Jakarta : In trading Wednesday (19 / 6) Crude oil prices continued to rise. Crude oil prices are at the highest position in four days amid speculation that U.S. crude supplies fell for four consecutive weeks.
Meanwhile, the belief that the European economy will improve after Greece was awarded a grant also helped lift sentiment continued crude oil prices. Crude oil prices had experienced a movement which seemed to fluctuate after yesterday suffered the biggest rise in six weeks.
Data from the Department of Energy that will be announced today is expected to show that U.S. crude oil reserves will decline by 1.5 million barrels last week. Nymex crude futures for August delivery contract seems to increase by 1 cent and traded at 92.90 dollars per barrel position. Early this morning crude oil prices closed with gains of 2.28 dollars (2.5%) in the position of 92.89 dollars per barrel.
Analyst Research Vibiz of Vibiz Consulting e
stimates that the price movement of crude oil will tend to be influenced by the fundamental conditions of demand and supply sides. Meanwhile, global economic conditions in general also plays an important role in determining the price movement of this commodity. Prices will still have movement in the range of 90-97 dollars per barrel.
Meanwhile, the belief that the European economy will improve after Greece was awarded a grant also helped lift sentiment continued crude oil prices. Crude oil prices had experienced a movement which seemed to fluctuate after yesterday suffered the biggest rise in six weeks.
Data from the Department of Energy that will be announced today is expected to show that U.S. crude oil reserves will decline by 1.5 million barrels last week. Nymex crude futures for August delivery contract seems to increase by 1 cent and traded at 92.90 dollars per barrel position. Early this morning crude oil prices closed with gains of 2.28 dollars (2.5%) in the position of 92.89 dollars per barrel.
Analyst Research Vibiz of Vibiz Consulting e
stimates that the price movement of crude oil will tend to be influenced by the fundamental conditions of demand and supply sides. Meanwhile, global economic conditions in general also plays an important role in determining the price movement of this commodity. Prices will still have movement in the range of 90-97 dollars per barrel.
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