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The cost of oil has increased, since the index of German business confidence unexpectedly rose in November to its lowest level in two and a half years, signaling that Europe's largest economy is starting to gain momentum.
Futures climbed as much as 1.3%, pulling the rise of the euro and shares, as the business climate index from the Munich institute Ifo, the index rose to 101.4 from 100 in October. Note that economists had forecast a drop to 99.5.
Also on the rise in oil prices has affected reported that Israeli troops opened fire on Palestinians near the Gaza Strip, thus confirming the fact that the truce was violated.
Note that Hamas and Israel seek to strengthen the cease-fire, which took effect at 9 pm local time on November 21 and was declared Egyptian Foreign Minister Mohamed Amr and U.S. Secretary of State Hillary Clinton.
Recall that futures touched a high of $ 89.80 on November 19, while showing the highest intraday level since Oct. 22, on concern that the violence in the Gaza Strip will be distributed in violation of the disruptions in the supply of the surrounding region.
December futures price of U.S. light crude oil WTI (Light Sweet Crude Oil) vyrsola to 87.98 dollars a barrel on the New York Mercantile Exchange.
January futures price of North Sea petroleum mix of mark Brent rose 51 cents to $ 110.89 a barrel on the London Stock Exchange ICE Futures Europe.
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