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A lower dollar led to higher international oil prices
Source:China Fertilizer Net   Author:Chen Gang   Time:2010-07-30   Read:1313second  

        By the lower U.S. dollar exchange rate and other factors, rising oil prices on the 29th round.
        The same day the U.S. Labor Department figures released last week, the United States for the first time claims for unemployment benefits fell by 11,000, the total fell to 45.7 million. Although this data than market analysts expected slightly better, but in general, the job market remained weak.
        The data is more robust in Europe, both the company performance or macroeconomic data are indicative of the strength of economic recovery in Europe than it was previously expected to be strong, boosting investor confidence in the euro market.
Affected the euro against the dollar hit a 12-week high, dollar rise in U.S. dollar-denominated energy futures prices. 
        To the closing, the New York Mercantile Exchange, light crude oil for delivery in September futures rose 1.37 dollars to close at 78.36 U.S. dollars a barrel. London Brent crude oil futures rose 1.53 U.S. dollars to close at 77.59 U.S. dollars a barrel. (Chen Gang)

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