Oil prices keep varying

Instability on stocj markets and currency exchanges impacts oil value

In brief: Oil prices fall due to market members’ fear of financial situation in Europe.

World markets have started today from oil prices fall. On London exchange barrel of oil in future deals of Brent has lost 34 cents of its price and has reached $71.50. New York exchange of operations in Asian sector shows fall of light Texas oil prices to $70.59 per barrels. Thus the loss is 21 cent.

Oil prices fall due to market members’ fear of financial situation in Europe. Yesterday oil prices fell due to common strike of the largest state and private trade unions in Greece. Also value of “black gold” depends on the rate of world basic currencies, in particular euro and US dollar. Yesterday, however, the rate of European currency stopped falling due to German saving measures on European stock markets. Thus today oil prices are expected to grow up.

Maria Velikanova
2010-05-21 09:20, Economics.

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