Libya, because of the uncertainty surrounding still exist, NYMEX crude oil futures climbed to 29, closing above $ 104 a barrel to $ 104.79, low volume exacerbated market volatility.
Integrated media reported on March 29, the New York Mercantile Exchange (NYMEX) crude oil futures rose 29 closing, subject to market recovery query Libyan oil exports to boost the speed and the stock market.
May the New York Mercantile Exchange, light sweet crude oil futures settled up 81 cents to $ 104.79 a barrel, or 0.8%. ICE Brent crude futures rose 46 cents to $ 115.26 a barrel, or 0.4%.
How quickly the market can return to the Libyan market, doubts are driving oil prices higher. Libyan opposition said earlier that the country is expected to resume oil exports within a week. However, the ability to so quickly return to the Libyan oil market, lingering doubts, traders are reluctant to bet that oil prices fell sharply, especially in other countries in the region, continuing unrest in the case.
Sharp rise in oil prices also gained from the stock market a boost because the stock market higher people rise in oil demand in the United States hopes to heat up. Dow Jones Industrial Average index was up 84 points shortly after, to 12,282 points, by the sharp rise in telecom stocks led.
Low volume exacerbated market volatility. New York Mercantile Exchange crude oil futures contract may hit the main lowest closing level during the year. Volume 28, ranking second last year.
Later, traders will attention to the latest U.S. oil inventory data. American Petroleum Institute (American Petroleum Institute) is scheduled for 4:30 pm on 29 oil inventory data released. More attention of the Department of Energy (Department of Energy) report will be released at 10:30 am 30. Analysts expected an increase of 150 million barrels in crude stocks last week, gasoline inventories fell 170 million barrels expected, distillate stocks fell 40 million barrels.
April RBOB gasoline contract settled up 1.84 cents to $ 3.0458 a gallon, or 0.6%. April heating oil futures rose 1.66 cents to $ 3.0415 a gallon, or 0.6%. (Water where a)