Go Finance Reporting in NEW YORK - Crude oil prices at the close of this weekend was stable. Instability driven by volatile oil prices that occurred because of the weakening dollar (U.S.) against the Euro. Debt crisis in the European region is also a negative sentiment itself.
Light sweet crude for July delivery rose 36 cents recorded in the price level of USD110, 59 per barrel. While the Brent oil declined 2 cents to be thin USD115, 02 per barrel.
"We only saw a few people who push and pull stock positions before the long weekend, "said Jason Schenker Prestige economic analyst, as quoted by Reuters (05/28/2011).
Oil prices at this week tracked down since Monday because of the collapsed value of the dollar (U.S.). In addition, the fall in oil prices was also driven by the indication of slowing economic growth in Asia.
However, Tuesday Goldman Sachs and Morgan Stanley estimates that the price of Brent crude oil will reach $ 130 per barrel in 2010.
On 20 May, U.S. crude oil reserves rose to 600 thousand barrels. This is confusing expectations many people who predict a decrease in demand.
U.S. gasoline inventories rose 3.8 million barrels of its own, surprising prediction of the various parties. Gasoline demand alone will likely increase due to the long holiday weekend.
As is known, such as markets sank in trading Thursday, after two previous days many traders took profits. Data undermining the U.S. economic slump in investor confidence again. Previously, the market was so hoping to increase U.S. economic growth will be achieved growth above 1.8 percent in the first quarter, but growth rates did not get better. (GoFinance)
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