Continue to be affected by supply concerns and the expected impact of the economic stimulus policy, international oil prices on the 16th for the third consecutive day of gains.
Market traders said the day's rising market, investors mainly because of concerns about oil supply. In the Middle East, following Syria after Lebanon into a volatile situation in Saudi Arabia and other Gulf countries have begun to guide their citizens to leave the country. In addition, tensions in the Strait of Hormuz, a great threat to the Middle East's oil exports. At the same time, the oil fields of the North Sea a massive overhaul of maintenance has also led to a short-term decrease in production, further tightening of the global oil supply.
In terms of economic data, the day, the U.S. Labor Department announced economic data show that the increase in the number of U.S. initial jobless claims last week, 2,000 people, but the four-week average decreased by 5500 people. U.S. Department of Commerce data show that the ring than in U.S. housing starts in July decreased by 1.1%, worse than last month, 6.8 percent surge. Released in August by the Federal Reserve Bank of Philadelphia manufacturing index for the fourth consecutive month to a negative value, manufacturing continued to shrink in the area.
Investors believe that a series of weak economic data is likely to drive the U.S. Federal Reserve Board to launch more quantitative easing monetary policy, giving the oil prices upward momentum.
In addition, due to Brent September futures due after the close of trading on the day of, some investors adjusted positions, has also led to the day of fluctuating oil prices.
To close the day, the New York Mercantile Exchange, light sweet crude for September delivery rose $ 1.27 to close at $ 95.60 per barrel, or 1.35%. The price of North Sea Brent crude oil futures for October delivery rose 65 cents to close at $ 116.90 a barrel, or 0.84%.