Oil prices higher after five days of trading slumped during the economic data sparked investor fears erase. AP reported reference prices for oil for September contracts, up 53 cents to U.S. $ 75.77 per barrel in trading Tuesday (17 / 8) in the New York Mercantile Exchange (Mercantile). Oil prices rose as the strengthening of the stock market, after the U.S. government explained that the price of wholesale goods increased for the first time in July, since last March. Similarly, industrial production for July, up more than economists' earlier expectations.
Oil prices and stock prices moved hand in hand in recent weeks, as commodity investors attitude that often pay attention to the movement of the stock market as a signal of global economic conditions.
The Dow Jones rose almost 104 points. While the S & P 500 index and Nasdaq index also rose. Based Mercantile trade for September contracts, liquid oil prices rose 3.71 cents to $ $ 2.0259 per gallon, and gasoline rose 2.89 cents to U.S. $ 1.9532 per gallon. For natural gas prices also rose, which rose 3.9 cents to U.S. $ 4.267 per 1,000 cubic feet. In London, Brent prices rose to U.S. $ 1.3 to U.S. $ 77.46 per barrel on the ICE futures.
Oil prices and stock prices moved hand in hand in recent weeks, as commodity investors attitude that often pay attention to the movement of the stock market as a signal of global economic conditions.
The Dow Jones rose almost 104 points. While the S & P 500 index and Nasdaq index also rose. Based Mercantile trade for September contracts, liquid oil prices rose 3.71 cents to $ $ 2.0259 per gallon, and gasoline rose 2.89 cents to U.S. $ 1.9532 per gallon. For natural gas prices also rose, which rose 3.9 cents to U.S. $ 4.267 per 1,000 cubic feet. In London, Brent prices rose to U.S. $ 1.3 to U.S. $ 77.46 per barrel on the ICE futures.
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