World oil prices rose on Thursday (02/09), because most of the positive U.S. economic data indicates a continuing demand for oil in the world's largest economy. New York's main contract, light sweet crude for October delivery, rose 1.11 dollars to 75.02 dollars per barrel.
Brent North Sea crude oil, London, for October delivery rose 58 cents to 76.93 dollars. An explosion that ripped in the Gulf of Mexico oil platform on Thursday had little impact on prices.
Owned by Houston, the company that berbasisi Mariner Energy in Texas, oil rigs are not producing at the time of the explosion, said the coast guard, although there are reports that saw a puddle. Markets volatile on Thursday but the price rally in late trading after better than expected U.S. jobless data and housing.
In addition, the latest figures showed orders to U.S. factories rose 0.1 percent in July, the first increase after two months of decline. "I think people see that the economy is growing but at a very slow speed, and if the economy grows then their expectations for demand growth going forward," said analyst Andy Lipow of Lipow Oil Associates.
Prices jumped almost two dollars for New York and Brent contract on Wednesday after a strong manufacturing data from the United States and China - two of the world's largest oil consumer.
Analysts said the market was waiting for the latest monthly employment report from the government on Friday amid expectations of continued decline in employment.
Department of labor is widely expected by analysts to report non-farm payroll - combining both government and private sector jobs - shrunk 120 000 in August with unemployment crept to 9.6 percent from 9.5 percent today.
"You may have some` `short covering ahead of holiday weekend, ahead of non-farm payroll data tomorrow," said Jason Schenker, an analyst from the Prestige Economics.
Brent North Sea crude oil, London, for October delivery rose 58 cents to 76.93 dollars. An explosion that ripped in the Gulf of Mexico oil platform on Thursday had little impact on prices.
Owned by Houston, the company that berbasisi Mariner Energy in Texas, oil rigs are not producing at the time of the explosion, said the coast guard, although there are reports that saw a puddle. Markets volatile on Thursday but the price rally in late trading after better than expected U.S. jobless data and housing.
In addition, the latest figures showed orders to U.S. factories rose 0.1 percent in July, the first increase after two months of decline. "I think people see that the economy is growing but at a very slow speed, and if the economy grows then their expectations for demand growth going forward," said analyst Andy Lipow of Lipow Oil Associates.
Prices jumped almost two dollars for New York and Brent contract on Wednesday after a strong manufacturing data from the United States and China - two of the world's largest oil consumer.
Analysts said the market was waiting for the latest monthly employment report from the government on Friday amid expectations of continued decline in employment.
Department of labor is widely expected by analysts to report non-farm payroll - combining both government and private sector jobs - shrunk 120 000 in August with unemployment crept to 9.6 percent from 9.5 percent today.
"You may have some` `short covering ahead of holiday weekend, ahead of non-farm payroll data tomorrow," said Jason Schenker, an analyst from the Prestige Economics.
1 komentar:
auhh
Post a Comment