Friday, 6 January 2012

Oil: the profit-taking drive down the price


Oil prices fell slightly on Friday in New York affected by profit-taking investors who bet correctly on a decline in unemployment in the United States.

After opening up 35 cents, a barrel of light sweet crude (WTI) for delivery in February will ultimately fell 25 cents to 101.56 dollars on the New York Mercantile Exchange (Nymex).

Remember that Wednesday, the courts had reached the highest since early May, to $ 103.22 dollars.

Friday is the situation observed in a row for its part to profit taking brokers who clearly anticipated the good performance of the employment figures in the United States.

The official unemployment rate fell 0.2 points from November, reaching 8.5%, a value higher than analysts' expectations, which had forecast 8.6%.

But such figures confirm the decline in unemployment, the rate has declined for four straight month, falling 0.9 percentage points over the entire year.

Meanwhile the U.S. economy created 200,000 jobs in November, more than it destroyed in December.

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