The price of crude oil is back for the fourth consecutive day in London, and is already in the house of 50 dollars per barrel, the lowest rate in January 2007. Also in New York, the Light Sweet Crude is around 50 dollars, with the accent of fears that the contraction in the global economy will reduce demand for fuels.
Eudora Ribeiro
Thus, at 9.10, a barrel of Brent (oil of reference in Europe) for delivery in December was traded on ICE in London to fall 80 cents, or 1.55%, to 50.92 dollars, its lowest since 18 January last year when the touched 50.91 U.S. dollars.
At the same time the contracts of December West Texas Intermediate (the reference oil in the U.S.) were traded on the NYMEX in New York to devalue 94 cents to 52.68 dollars, the lowest since Jan. 23, 2007, when it was negotiated in 52.41 U.S. dollars.
"The scenario continues to be a weak demand, along with the economic fears and falling markets," said Antoine Halff to Bloomberg, a specialist in Newedge USA LLC in New York.
Experts note that the reduction of Japanese exports, the faster pace of the last seven years, the month of October, is the latest sign that the recession on a global scale is worse. This week, was to learn that Japan, the largest importer of oil in the world, entered into recession in the third quarter of this year.
Eudora Ribeiro
Thus, at 9.10, a barrel of Brent (oil of reference in Europe) for delivery in December was traded on ICE in London to fall 80 cents, or 1.55%, to 50.92 dollars, its lowest since 18 January last year when the touched 50.91 U.S. dollars.
At the same time the contracts of December West Texas Intermediate (the reference oil in the U.S.) were traded on the NYMEX in New York to devalue 94 cents to 52.68 dollars, the lowest since Jan. 23, 2007, when it was negotiated in 52.41 U.S. dollars.
"The scenario continues to be a weak demand, along with the economic fears and falling markets," said Antoine Halff to Bloomberg, a specialist in Newedge USA LLC in New York.
Experts note that the reduction of Japanese exports, the faster pace of the last seven years, the month of October, is the latest sign that the recession on a global scale is worse. This week, was to learn that Japan, the largest importer of oil in the world, entered into recession in the third quarter of this year.
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