International oil prices on Monday (September 27) morning in the European market hovered below 77 U.S. dollars, as European stock markets into a consolidation, and the prospects for global economic recovery and future energy needs are filled with uncertainty.

New York Mercantile Exchange (NYMEX) 11 month crude futures rose 9 cents intraday Asian cities, to $ 76.58 / barrel, after earlier touching September 14 high of 76.85 U.S. dollars / barrel.

U.S. stocks on Friday due to sharp rise in positive economic data, Asian stock markets rose on Monday, is 2-year high. But European stock markets remained stable after opening.

Friday's U.S. economic data showed U.S. new home sales were flat in August, highlighting the recovery is still faced with many obstacles. But in August a general increase in new orders for durable goods, a strong rebound in business spending plans, the latest sign that the economy is the sharp decline in the summer there is the phenomenon of regression.

CMCmarkets JamesHughes analysts said oil prices in recent months following the United States and European stock market.

Hughes said that the European stock market volatility is not, but will be announced later this week, the United States and other countries in the second quarter gross domestic product (GDP) correction value, is expected to stock market direction.

Much important data released Monday, the U.S. manufacturing data is more important. Tuesday's consumer confidence index and the value of the UK in the second quarter GDP final guidelines on the role of the market stronger.

Venezuelan Energy and Oil Minister Rafael Ramirez (RafaelRamirez) said Sunday that the country is satisfied with the current global oil prices, and in October 14 of the Petroleum Exporting Countries (OPEC) meeting in Vienna, called on to maintain the current production levels.

Kuwait Oil Minister Al-Sabah (SheikhAhmadal-Abdullah) said on Saturday, OPEC meeting in Vienna will not change its production quotas.

Beijing time 18:49, NYMEX11 report on crude oil futures $ 76.56 / barrel. (Pity snow)