9/9/10

Oil is traded in different directions on the background data on the labor market report, OPEC and the U.S.

The cost of oil is moving in different directions on the background of a decrease in the number of initial applications for unemployment benefits in the United States and statements by OPEC about a possible decrease in demand for raw materials, according to data trading. The cost of the October futures for U.S. light crude oil WTI (Light Sweet Crude Oil) in electronic trading in New York as of 7:45 Moscow time the dollar rose 0.49, or 0.66% - up 74.74 per barrel . Spot price of North Sea petroleum mix of mark Brent at 7:50 Moscow time the dollar fell by 0,3, or 0,39% - to 76.27 per barrel.

"Stock markets rose slightly after the publication of better-than-expected data on unemployment in the U.S., and oil prices jumped on this background in the price" - leads the agency Bloomberg according to general director CWA Global Markets Pty McGuire, Peter (Peter McGuire). Demand for raw materials increased after the United States on Thursday was published statistics on the labor market. The number of initial applications for unemployment benefits for the week ending Sept. 4, fell by 27 thousand compared to the previous week - up to 451 thousand Analysts had expected the number of initial applications will be 470 thousand

Moderate pressure on the market at the same time may have published on Thursday monthly report of the countries - exporters of petroleum. OPEC experts believe that global oil consumption could decline in the remaining months of this year due to "acute economic crisis and its prolonged effect on the global economy." Support to the market of "black gold" have a Friday news from Asia. According to the updated assessment, economic growth in Japan in April - June this year amounted to 1,5%. Earlier it was reported that GDP grew in the II quarter at only 0.4% compared with January - March. Furthermore, as it became known the day before oil reserves in the U.S. for the previous week declined by 1.85 million barrels against the expected growth of 1 million

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