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The following article was published in our article directory on January 25, 2011.
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New York Oil Prices Has Dropped Five Days

Article Category: Business

Author Name: Amanda xzh

Because of fears the Opec output improvement, the New York mercantile exchange (NYMEX) at crude oil futures Monday low charge.
NYMEX3 delivery of crude oil in the contract fell $1.24 10,305.77, 87.87 dollars a barrel, fell 1.4%, have the fifth consecutive day fall. Pan fluctuating range for 87.27-89.63 dollars, the former is the lowest since jan. 7. Saudi Arabia's oil minister said Monday that the organization of petroleum exporting countries should be gradually increased production to meet the increasing global demand.
Dealers for a week inventory report preparation, the market expects the U.S. crude oil inventories for the second consecutive weeks will increase.

New York market main oil futures contract closing price and the lowest since June 8th, dropped more than 1%. This week 5 trading day New York oil all accept low. Total fallen about 8.5%, weekly decline for nearly two months to the largest. That morning the department announced disappointing June employment report, oil price declines intensified. In addition, may factory orders by stronger-than-expected, prices continue to wander in the low post.

To closing, the New York mercantile exchange of the most recent August lightweight low sulphur crude oil contract fell 81 cents a barrel, closing at $72.14 -some 1.1%. The contract for 73.38 dollars, plate relates to the lowest 71.70 dollars.

On that day, the other energy commodity also have been selling pressure. Natural gas futures spit out Thursday rose part. Due to the government's weekly gas released Thursday, incremental below expectations inventory gas prices sharply higher reap 5.2 percent. In trading on Friday, August gas contracts fell 21 cents, to each unit of $465 million British heat, a decline of 4.3 per cent. However, this week natural gas price still increase of about 0.4 per cent. July new formula of gasoline contract fell 3 cents a gallon 1.97 dollars, fell 1.5%. This week total gasoline prices fell about 7.5%.

AAA estimate, independence day long weekend will have nearly 35 million americans go out, than the same period last year more than 17 percent in 2008, but less than 7% during the same period, and there was nearly 3,800 million people traveling to at least 50 miles of home. Analysts believe that the long weekend petrol prices won't have too big change, and may even even fall through.

Because of fears the Opec output improvement, the New York mercantile exchange (NYMEX) at crude oil futures Monday low charge.
NYMEX3 delivery of crude oil in the contract fell $1.24 10,305.77, 87.87 dollars a barrel, fell 1.4%, have the fifth consecutive day fall. Pan fluctuating range for 87.27-89.63 dollars, the former is the lowest since jan. 7. Saudi Arabia's oil minister said Monday that the organization of petroleum exporting countries should be gradually increased production to meet the increasing global demand.
Dealers for a week inventory report preparation, the market expects the U.S. crude oil inventories for the second consecutive weeks will increase.

New York market main oil futures contract closing price and the lowest since June 8th, dropped more than 1%. This week 5 trading day New York oil all accept low. Total fallen about 8.5%, weekly decline for nearly two months to the largest. That morning the department announced disappointing June employment report, oil price declines intensified. In addition, may factory orders by stronger-than-expected, prices continue to wander in the low post.

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