Monday, August 8, 2011

Crude oil prices plummeted, and $ 81.31 / barrel

Crude oil prices plummeted, and $ 81.31 / barrel
Crude oil prices the world fell to its lowest level more than eight months yesterday as investors push to sell risky assets to buy property as safe as gold after the S & P downgrades credit of the United States first.
Oil futures in the U.S. has lost 6.4% in the first trading day since the U.S. lost AAA ratings. Gold prices while setting historic highs. Global stock markets crashed by more than 5%.
Closed 8 / 8, WTI oil prices in New York in September delivery lost $ 5.57 to $ 81.31 / ounce - the lowest since 23/11 last year. This version was also the deepest reduction since 5 / 5. Oil prices have fallen 15% in August and 11% in 2011. Since reaching a high of over two years Thursday 2 / 5, the price of oil in New York has lost 29%. Trading volume of this market the past two sessions was 40% higher than the average three months.
Brent crude oil prices in September in London, while the lower $ 5.63, or 5.2% to $ 103.74 / barrel.
S & P said its credit downgrades of the U.S. by the agreement that President Obama and the Republicans is not enough to achieve stability in the medium-term debt.
U.S. stock market down dramatically yesterday, with the S & P 500 lost 4.4%, Dow Jones industrial index down 3.5%.
John Kilduff, partner of Capital LLC in New York Again reviews, trust is lost and the pressure on oil prices remain until the economy shows signs of improvement.
Technical Analysis of Citi FX shows, WTI oil closed below support at $ 82.87 / barrel, prices could try a low $ 76.17 / ounce in the next few sessions. Copyright @ 2011 - Theme by NanLimo - Thanks to Google