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Today the cost of crude oil exceeded $ 100 a barrel, which was the first time since May, as the Federal Reserve announced that it would buy mortgage-backed securities to stimulate economic growth in the world's largest economy.
Futures rose 2.1% after the Fed announced yesterday that it will hold additional bond purchases in the third round of so-called quantitative easing. The Fed also noted that it would acquire the monthly mortgage bonds to $ 40 billion addition, the Fed will improve the retention period interest rates near zero until mid-2015.
Oil prices also rose on concerns that the protests in the Middle East and North Africa will cause disruptions in the supply of the regions. Also worth noting is that Iran, which is the third largest oil producer, faces sanctions on its energy and financial industries because of its nuclear program.
Recall also that the Saudi Minister Ali al-Naimi said on September 10 that the global demand, supply and stocks of raw materials do not meet the current rise in oil prices.
Still, futures could fall next week on speculation that oil and fuel in the U.S. will increase as the recovery of production in the Gulf of Mexico.
October futures price of U.S. light crude oil WTI (Light Sweet Crude Oil) on the NYMEX is now $99,42 per barrel.
October futures price of North Sea Brent crude oil mix is now $116,95 a barrel on the ICE Futures Europe Exchange.
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