Home
Oil in a large weekly gains and gold in harsh loss
Oil prices continued progress yesterday, ending the week on the big gains, which boosted its positions Brent crude above $ 58 a barrel, and US light crude climbed above $ 52 a barrel.
Crude oil prices surged two dollars yesterday, to check her second weekly increase, and away more than 20 percent from its lowest level in nearly six years, recorded in the last month, with the support of the chaos in Libya and strong economic indicators from the United States.
Prices remain low by about 50 percent from last June levels. Analysts rule out that prices are recovering rapidly in the face of rising global stocks and the stability of supply from OPEC. The prices received support in the fears of weak production in Libya and the low number of US oil rigs, and the decline in business investment in high-cost fields and oil shale projects.
Said Carsten Fritsch of Commerzbank "We will need some time before we see a continuing trend in oil prices ... There is no recovery ongoing basis at the moment."
The price of oil has been able to stay away from a lot about the lowest levels due to lower US drilling activity which may curb the rapid growth in shale oil production.
In the meantime, the price of gold fell sharply after the jobs data in the United States, which boosted confidence in the power of the US economy, to record its biggest weekly loss in almost two months after sharp gains in the beginning of the year.
[You must be registered and logged in to see this link.]
