Go Finance Report - Crude oil prices in Asian markets this afternoon crept up close to USD92 per barrel as traders pay attention to the movement of these commodities middle before returning to haunt the threat of global inflation and slowing demand for global economic recovery.
As quoted by the Associated Press (AP), Monday (3/1/2010), the price of crude oil for February delivery rose 30 cents to as low as USD91, 68 per barrel in electronic trading on the New York Mercantile Exchange (Nymex) this afternoon Asian time.
Throughout 2010, oil prices actually still more struggling in the previous level of $ 70 per barrel jumped up to USD92 per barrel in December last after signs of recovery of crude oil from emerging countries like China. In 2010, average oil prices reached USD79, 72 per barrel.
A number of traders of these commodities in recent years has given more attention in futures contracts as a protection against inflation and the weakening dollar. However, with crude oil prices of the higher self would be a threat to accelerate inflation.
"Investors are using oil or other commodity futures as an option to hedge against inflation, the weakening dollar, and economic recovery," the report said Cameron Hanover.
In other Nymex trading in the contract of February, heating oil up 1.0 cents to $ 2, 55 per gallon, while gasoline futures climbed 0.5 cents to $ 2, 44 per gallon. While natural gas futures for July jumped 3.11 cents to $ 4, 52 per 1,000 cubic feet. In London, Brent crude rose $ 1 more and rocketed by, 99 to USD5, 08 per barrel in ICE Futures exchange. (GoFinance)
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