May 29 New York news, the depreciation of the dollar and a number of countries in support of positive economic data, international oil prices on the 29th consecutive trading days up fifth.
As the market economy growing optimism, some investors began to seek a number of high-risk high-return investment products, the dollar was therefore reduction. In the foreign exchange market, the U.S. dollar against the euro this year, the 1.41:1 ratio fell to its lowest level, which eventually led to including crude oil and other dollar-denominated commodity futures prices rose.
In addition, the United States, India and Japan, released the same day a series of economic data are better than market expectations, which allows investors to believe that the global economy during the worst has passed and the demand for crude oil would hope that with the economic recovery in the second half growth .
To the day when the market closed, the New York Mercantile Exchange for delivery in July the price of light crude oil futures rose 1.23 U.S. dollars to close at 66.31 U.S. dollars a barrel. London Brent crude-oil futures rose 1.13 U.S. dollars to close at 65.52 U.S. dollars a barrel.
So far this year, international oil prices in May rose by almost 30%, in March 1999 for the largest single month since the rise.
Source: www.in-en.com May. 30, 2009
