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The cost of oil has increased, rising at the same time above $ 115 a barrel, which was associated with a significant reduction of the dollar in the first half of today's trading. At the same time, analysts note that the rise in prices is promoted by that many investors are waiting for Federal Reserve Chairman Bernanke's speech, which could shed light on the future of the program to purchase assets. Meanwhile, the rise in price of oil has also been caused by the Italian data with exit polls, which showed that the center-right can get 31% of center-left - 29.5%.
Recall that last week, the focus of the market are minutes of the last meeting of the FOMC, which showed that some Fed officials are considering the completion of its program of monetary stimulus earlier than expected.
Note also that a slight pressure on the oil price have presented today data from China, which showed that the purchasing managers' index for the manufacturing sector fell sharply in February, while still achieving the level of 50.4, up from 52.3 last month. Economists say that this is an allusion to the first deterioration in economic activity in the country in the last five months, and also serves as a reminder that the road to economic recovery will be difficult.
Furthermore, we note that a further increase in prices constrains caution investors before the talks between Iran and world powers to resolve the issue of the disputed nuclear program. Note that any progress in these discussions could be a positive for the stock markets and to downward pressure on the price of oil.
April futures price of U.S. light crude oil WTI (Light Sweet Crude Oil) rose to 93.23 dollars a barrel on the New York Mercantile Exchange.
April futures price for North Sea petroleum mix of mark Brent rose 30 cents and is now $ 114.51 a barrel on the London Stock Exchange ICE Futures Europe.
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