The price of oil affects the economic development more than any other commodity. And consumers also notice changes significantly during refueling and their energy bill. The ticker provides information on the current development
oil prices on the rise
Wednesday 30 March, 07:40. oil prices rose slightly on Wednesday. One barrel (about 159 liters) of North Sea Brent cost for delivery in May last $ 39.33 and therefore 19 cents more than on Tuesday. The price for a barrel of the American West Texas Intermediate (WTI) rose 27 cents to $ 38.55.
One reason for the rise in prices is According to experts, the weak dollar. Fed chief Janet Yellen had expressed on Tuesday reluctant to possible rate hikes in the US. The dollar fell after the speech to value. A weak dollar makes it mostly in the US currency traded oil abroad cheaper, thereby strengthening demand and gives the price increases.
Later in the day figures on US crude inventories for further stimulus could provide. The market expects a new record high. Overall, experts in oil prices currently more room down. !
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oil prices plummeting
Tuesday, 29 March 17.00: – The oil prices on Tuesday in early trading slipped further. One barrel (about 159 liters) of North Sea Brent cost for delivery in May last 39.98 US dollars, or 30 cents less than on Monday. The price for a barrel of the American West Texas Intermediate (WTI) fell 25 cents to $ 39.14.
Next, high stocks in the US pressure on prices. Recently there has been speculation that held each next month meeting of oil producing countries expected to have a dampening effect on the oversupply. Kevin Norrish, an expert at the bank Barclays, sees the recent price decline, a counter-movement to an increase since mid-February. This was not justified by the fundamentals. The price of oil could therefore fall back to 30 dollars.
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