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Brent crude oil rose above $ 105, due to the tense situation in the Middle East
Source: China Fertilizer   Time:2013-05-07   Read:900second  

Brent crude oil rose more than 1% to above $ 105 a barrel, trading volatility, the market for Israeli air strike in Syria worries of supply in the Middle East, which overshadowed the weak global economy will likely suppressed demand worries. 

Brent crude rose $ 1.27 to settle at $ 105.46 a barrel intraday high of $ 105.54, this is the highest April 11. U.S. crude oil rose $ 0.55 to settle at $ 96.16 a barrel, down from the intraday high of $ 97.17. 

Fell below $ 99 since last Wednesday, Brent crude oil accumulated in the past three days rebounded more than $ 6, recorded in August 2012 the biggest three-day gain. Traders said that unless the global economy shows signs of strong growth, investors may lock in profits in the current level of Brent crude oil. 

Traders said Brent crude oil outperformed U.S. crude oil, highlighting the European oil market is sensitive to the tension in the Middle East. 

Brent Crude premium against U.S. crude go wide, closing Times $ 9.30 per barrel. At midday, the premium was narrowed to the narrowest level since June 2012. 

Monday, the euro area corporate purchasing managers' index (PMI) in the region may fall into a deeper recession in the season. April service sector purchasing managers' index increased in August 2011 to the lowest. 

Due to the British holiday, the the thinly traded Brent crude oil price volatility is magnified. The volume of the 30-day moving average 52% lower, day trading range to $ 1.65. 

U.S. crude oil volume is slightly more than the 30-day moving average.

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