Oil on the stock exchanges in New York and London on the basis of trading on August 19 2010. reborn cheaper. Prices of oil futures declined on the eve of the day at an average of 1,4%. At the same time the official price of oil WTI (Light Sweet) dropped to a minimum of six weeks of steady below $ 75 per barrel. At the same time, the price of Brent oil had not changed so substantially, dropping to its lowest value in three trading days, and to keep above the mark of $ 75 per barrel.
The results of trading on the stock exchange for oil contracts the first position on August 19 were:
- New York Mercantile Exchange, on an urgent New York Mercantile Exchange (NYMEX) the official price of the futures Light, Sweet Crude Oil (September) lost 99 cents a day and steady at around 74.43 dollars per barrel. (The lowest since July 7) at the price range of transactions per session 73,96-76,10 per barrel.;
- In London on an electronic commodity exchange InterContinental Exchange Futures Europe (ICE Futures Europe) The official price for the futures IPE Brent Crude (October) fell $ 1 17 cents and steady at around 75.30 dollars per barrel. (The lowest since August 16 this year) with a range of prices of transactions per session 75,00-77,17 per barrel.
Falling prices of oil futures has identified 19 August-date information on the state of affairs in the U.S. labor market. As stated before the U.S. Department of Labor (US Department of Labor), "new" unemployed in the country was more than expected. Thus, the number of initial applications for unemployment benefit during the week that ended on August 14 2010. Increased compared with that of the previous week to 12 thousand and reached 500 thousand hits - the highest rate in nine months. However, analysts expect that figure does not exceed 480 thousand hits, according to news service RBC.
Oil market recently is very sensitive to information about unemployment in the U.S.. The reductions in the number of jobs or an increase in the number of unemployed are perceived by market participants as signs of slowing recovery of the U.S. economy, which instantly creates concerns about falling demand for oil and energy derivatives.
Meanwhile, the dollar on August 19 has considerably strengthened its position in the global currency market, which further contributed to the elimination of long positions on oil futures. On the eve of an indicator of the market Forex, reflecting changes in U.S. dollar on the basket of six leading world currencies, Dollar Index (spot) rose by 0,3% to 82.447 points - the highest figure for the last three sessions.
